Louisiana Administrative Code
Title 61 - REVENUE AND TAXATION
Part V - Ad Valorem Taxation
Chapter 1 - Constitutional and Statutory Guides to Property Taxation
Section V-123 - Statutes Pertaining to Specific Personal Property
Universal Citation: LA Admin Code V-123
Current through Register Vol. 50, No. 9, September 20, 2024
A. Listing and Assessing of Notes and Indebtedness
1. All credits, including open
accounts, bills receivable, judgments and all promissory notes, not exempt,
shall be assessed at the personal property ratio. Valuation shall be at an
average of the capital employed in the business after deduction from accounts
payable, bills payable and other liabilities of a similar character, not
exempt. Liabilities due from branches or subsidiaries shall not be deducted
(R.S.
47:1962).
2. Indebtedness and all evidence of
indebtedness shall be taxable only at the situs and domicile of the holder or
owner thereof (R.S.
47:1952).
AUTHORITY NOTE: Promulgated in accordance with R.S. 47:1952 and R.S. 47:1962.
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