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Legal Opinion

Opinion Number

Louisiana Attorney General Reports

Decided July 26, 1994Published

1Opinion of the Court

Dear Senator Hainkel:

You have requested an opinion of the Attorney General relating to the premium license tax credit an insurance company (Insurco) receives for investing in a certified Louisiana capital company (CAPCO). The factual scenario you present for our consideration in rendering the opinion is as follows.

Insurco proposes to make a loan of $30,000,000 to a CAPCO. If the loan qualifies as an "investment" in a CAPCO pursuant to R.S.22:1068(E)(1) and 51:1921 et seq., it will entitle Insurco to a 120% credit against its premium taxes (i.e., $36,000,000). You ask us to assume that the…

2Cases cited4 opinions

  1. United States Trust Co. of NY v. New JerseySupreme Court of the United States · 1977
  2. City of New Orleans v. Southern BankSupreme Court of Louisiana · 1856
  3. State v. Southern BankSupreme Court of Louisiana · 1871
  4. Hilton Hotels Corp. v. Parish of JeffersonSupreme Court of Louisiana · 1971

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