RS 47:61
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/la/title-47/47-1328A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 47:61
§61. Deductions from gross income; losses by corporations
In computing the net income of corporations, deductions shall be allowed for losses sustained during the taxable year and not compensated for by insurance or otherwise. The basis for determining the amount of deduction for such losses shall be the adjusted basis provided in R.S. 47:139 for determining the loss from the sale or other disposition of property.