Usufruct
R.S. 47:51

Exclusions from gross income; governmental subsidies ACTIVE

Funds accrued by a corporation engaged in operating a public transportation system from any federal, state or municipal governmental entity to subsidize the operation and maintenance of such a transportation system shall not be included in gross income and shall be exempt from taxation under this Chapter. All expenses of operating the transit system incurred by the corporation shall be deductible in arriving at net income.

Actions

JSON Markdown Source (legis.la.gov)

References

None.

Cited by

None.

History

  • enactment Acts 1979, No. 300, §1
  • amendment Acts 2015, No. 123, §1, eff. July 1, 2015 and §3, eff. July 1, 2018

Section navigation

Cite R.S. 47:51

Bluebook
La. Rev. Stat. Ann. § 47:51 (2026).
Permalink
https://theusufruct.com/rs/title-47/section-51
BibTeX
@misc{larevstat-47-51,
  title        = {La. Rev. Stat. Ann. § 47:51},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-47/section-51},
  note         = {Snapshot 2026-05-22}
}