Louisiana § RS 9:2149 - Receipts from interests in juridical persons
Full text of Louisiana Louisiana Civil Code § RS 9:2149 — Receipts from interests in juridical persons, with citation guidance and answers to common questions.
§ RS 9:2149. Receipts from interests in juridical persons
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.
B. A trustee shall allocate to principal the following distributions received on account of a trustee's interest in a juridical person:
(1) Property other than money.
(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.
(3) Money received in total or partial liquidation of the juridical person.
(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.
C. 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.
D. 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.
E. 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.
Acts 2020, No. 17, §1, eff. Jan. 1, 2021.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 9:2149
What does Louisiana Civil Code § RS 9:2149 cover?
Section RS 9:2149 ("Receipts from interests in juridical persons") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 9:2149?
A common citation format is "Louisiana Civil Code § RS 9:2149" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 9:2149 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.