§287.73. Modifications to deductions from gross income allowed by federal law

            A. The deductions from federal gross income allowed by federal law shall be modified by the deletions and additions specified herein.

            B. Deletions. The following deductions allowed by federal law are declared inoperative and shall not form a part of allowable deductions in the computation of net income:

            (1) The net operating loss deduction allowed by I.R.C. Section 172.

            (2) Income taxes imposed by this Part.

            (3) The dividends received deductions allowed by I.R.C. Sections 243, 244, and 245.

            (4) Depletion for oil and gas wells.

            (5) Deletions required by the provisions of Subpart F of this Part, where applicable.

            C. Additions. The following items are declared allowable as deductions in the computation of net income and shall be added to the deductions allowed under federal law to the extent not already included therein:

            (1) Expenses that would otherwise be deductible under federal law but for the provisions of 26 U.S.C. 280E, for a licensee of this state pursuant to Part X-E of Chapter 4 of Title 40 of the Louisiana Revised Statutes of 1950, as amended, related to the production or dispensing of marijuana recommended for therapeutic use by patients clinically diagnosed as suffering from a debilitating medical condition as defined in R.S. 40:1046.

            (2) Depletion for oil and gas wells is allowed as a deduction as provided by R.S. 47:287.745.

            (3) Intangible drilling and development costs. Intangible drilling and development costs are allowed as a deduction as provided by R.S. 47:287.743.

            (4) Repealed by Acts 2024, 3rd Ex. Sess., No. 5, §3, eff. Jan. 1, 2025.

            (5) Additions required by the provisions of Subpart F of this Part, where applicable.

            (6) The bonus depreciation deduction provided for in R.S. 47:287.744.

            Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986; Acts 2005, No. 401, §2, eff. for all taxable periods beginning after Dec. 31, 2005; Acts 2015, No. 123, §1, eff. July 1, 2015; §3, eff. July 1, 2018; Acts 2019, No. 331, §4, eff. July 1, 2019; Acts 2024, 3rd Ex. Sess., No. 5, §§1, 3, eff. Jan. 1, 2025.

            NOTE: See Acts 2015, No. 123, §5, re: applicability.

            NOTE: See Acts 2018, 2nd E.S., No. 4, §1, re: applicability.

            NOTE: See Acts 2024, 3rd Ex. Sess., No. 5, §4, regarding applicability to franchise tax periods beginning on or after Jan. 1, 2026.