Code · Louisiana · Title 47 — Revenue and Taxation

RS 47:153

65 words·~1 min read·/la/title-47/47-188

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

RS 47:153

§153. Unadjusted basis; property converted from personal use

In the case of property converted from personal use to business use or to use for profit, the basis shall be the lower of:

(1)the fair market value of such property at the time of the conversion; or

(2)the basis as otherwise determined under R.S. 47:140.

Amended by Acts 1958, No. 242, §9.