§203. Partnership computations
A. Income and deductions. The taxable income of a partnership shall be computed in the same manner as in the case of an individual except that:
(1) the items described in R.S. 47:202 A shall be separately stated, and
(2) the following deductions shall not be allowed to the partnership:
(a) the standard deduction provided in R.S. 47:68,
(b) the deduction for charitable contributions provided in R.S. 47:57,
(c) deductions allowed individuals if they itemize which would not be allowable if they claim the optional standard deduction.
B. Elections of the partnership. Any election affecting the computation of taxable income derived from a partnership shall be made by the partnership.
Amended by Acts 1958, No. 441, §1.
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