The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Danielle B. Clapinski.
DIGEST
SB 89 Original 2023 Regular Session Stine
Present law provides resident individuals a deduction on income from net capital gains. The
deduction is limited to 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 retains present law.
Proposed law prohibits the Department of Revenue, at the time of the filing of the income tax return,
from requiring a resident individual to provide additional documentation or an appraisal in order to
claim the credit.
Applicable for taxable periods beginning on or after January 1, 2023.
Effective August 1, 2023.
(Amends R.S. 47:293(9)(a)(xvii))