{"data":{"id":"us-la/rs-9-2149","jurisdiction":"us-la","citation":"RS 9:2149","heading":"Receipts from interests in juridical persons","body":"A. Except as otherwise provided in this Section, a trustee shall allocate to income money received on account of an interest in a juridical person.\nB. A trustee shall allocate to principal the following distributions received on account of a trustee's interest in a juridical person:\n(1) Property other than money.\n(2) Money received in one distribution or a series of related distributions in exchange for part or all of a trustee's interest in the juridical person.\n(3) Money received in total or partial liquidation of the juridical person.\n(4) Money received from a regulated investment company or a real estate investment trust if the money distributed is a capital gain dividend for federal income tax purposes.\nC. Money is received in partial liquidation to the extent that the juridical person, at or near the time of a distribution, indicates that it is a distribution in partial liquidation. A partial liquidation also occurs if the total amount of money and property received in a distribution or series of related distributions is greater than twenty percent of the juridical person's gross assets, as shown by the juridical person's year-end financial statements immediately preceding the initial receipt.\nD. Money is not received in partial liquidation, nor may it be taken into account under Subsection C of this Section, to the extent that it does not exceed the amount of income tax that a trustee or beneficiary must pay on taxable income of the juridical person that distributes the money.\nE. Notwithstanding the provisions of this Section, if the receipt is one to which a more specific provision of this Subpart applies, a trustee may allocate the receipt based upon the source or character of the receipt and may rely upon a statement made by the juridical person regarding the source or character of the receipt.","path":["TITLE 9. CIVIL CODE-ANCILLARIES"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=106956","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:49:32Z","sha256":"358706f3fbe1ba1092d4e0abc7b91dfba4e8ffd9970fe6fdde60c71cda7ddb51","source_id":"us-la","stale":false,"prev":"us-la/rs-9-2148","next":"us-la/rs-9-2150"},"notice":"GroundRules: Original legal text. Not legal advice."}