§57. Deductions from gross income; charitable and other contributions

In computing the net income of an individual, or a corporation, deductions shall be allowed for contributions or gifts made within the taxable year to or for the use of:

(1) The State of Louisiana, or any political subdivision thereof, for exclusively public purposes;

(2) A corporation, or trust, or community chest fund or foundation, organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual;

(3) The special funds for vocational rehabilitation authorized by Section 11 of the World War Veterans' Act, 1924;

(4) Posts or organizations of war veterans, or auxiliary units or societies of any such posts or organizations, if such posts, organizations, units, or societies are organized in the United States or any of its possessions, and if no part of their net earnings inures to the benefit of any private shareholder or individual; or

(5) A fraternal society, order, or association, operating under the lodge system, but only if such contributions or gifts are to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals.

Such contributions or gifts shall be allowable as deductions only if verified under rules and regulations prescribed by the collector, and shall be allowed to an amount which in all of the above cases combined does not exceed fifteen per cent of an individual's adjusted gross income as defined in R.S. 47:68, and shall be allowed in the case of a corporation to an amount which in all of the above cases combined does not exceed five per centum of the corporation's net income as computed without the benefit of this Section, except that in the case of an individual if in the taxable year and in each of the eight preceding taxable years the amount of the contributions or gifts described in paragraphs (1) through (5) of this Section, plus the amount of income taxes paid under this Chapter, exceed ninety per centum of the taxpayer's net income for each taxable year, as computed without the benefit of this Section as applicable to each year, then the fifteen per centum limit imposed herein shall not be applicable.

Amended by Acts 1950, No. 445, §1.