§ 26-51-443 - Allocation of unstated interest -- Foregone interest. - Arkansas Statutes

26-51-443. Allocation of unstated interest -- Foregone interest.

(a) Section 483 of the Internal Revenue Code of 1986, as in effect on January 1, 1999, regarding the allocation of unstated interest, is adopted for the purpose of computing Arkansas income tax liability.

(b) Section 7872 of the Internal Revenue Code of 1986, as in effect on January 1, 2007, regarding the taxation of foregone interest on a below-market loan, is adopted for the purpose of computing Arkansas income tax liability.