Section 40-18-11 Inventory.
Section 40-18-11
Inventory.
Whenever in the opinion of the Department of Revenue the use of inventories is necessary in order clearly to determine the income of any taxpayer, the inventory shall be taken by such taxpayer in accordance with the methods and procedures prescribed in 26 U.S.C. §§263A, 471, 472, 473 and 474.
(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §381; Acts 1990, No. 90-583, p. 988, §5.)