The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Riley Boudreaux.
DIGEST
SB 181 Engrossed 2015 Regular Session Adley
Present law authorizes a deduction from tax table income for individual income tax purposes for
income from net capital gains recognized and treated for federal income 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 this state.
Proposed law repeals present law.
Applicable to all tax years beginning on and after January 1, 2015.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 47:293(10); repeals R.S. 47:293(9)(a)(xvii))