Statutes > Arkansas Statutes > Title 26 - Taxation > Subtitle 5 - State Taxes > Chapter 51 - Income Taxes > Subchapter 4 - Computation of Tax Liability > § 26-51-443 - Allocation of unstated interest -- Foregone interest.

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

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.