DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 747 Original 2015 Regular Session Leger
Abstract: Repeals the individual income tax deduction for net capital gains
Present law provides for a deduction from tax table income for income derived from net capital
gains, which shall be limited to gains recognized and treated for federal tax purposes as arising from
the sale or exchange of an equity interest in or substantially all of the assets of a nonpublicly traded
corporation, partnership, limited liability company, or other business organization commercially
domiciled in the state.
Proposed law repeals present law.
(Amends R.S. 47:293(10); Repeals R.S. 47:293(9)(a)(xvii))