Section 40-18-14.3
Gross income – Discount and interest.
Gross income shall include original issue discount determined in accordance with 26 U.S.C. §§1271 to 1275, inclusive, and interest or other income determined in accordance with 26 U.S.C. §7872, related to certain related party loans, tax avoidance loans, etc. with below-market interest rates.
(Acts 98-502, p. 1083, §1.)