There is a newer version
of
this Statute
2018 Louisiana Laws
Revised Statutes
TITLE 47 - Revenue and Taxation
RS 47:62 - Deductions from gross income; business expenses
Universal Citation: LA Rev Stat § 47:62 (2018)
§62. Deductions from gross income; business expenses
In computing net income, deductions shall be allowed for all ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered; travelling expenses, including the entire amount expended for meals and lodging, while away from home in the pursuit of trade or business; and rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
