59-7-111. Safe harbor lease provisions.
(1) For purchasers or lessors of safe harbor leases, the following additions shall be made to unadjusted income: interest expense; and depreciation claimed on safe harbor lease property. For purchasers or lessors of safe harbor leases, the following subtractions shall be made from unadjusted income: rental income; and amortization of the purchase price of tax benefits.
(2) For sellers or lessees of safe harbor leases the following additions shall be made from unadjusted income: the amount of gain on the sale of federal tax benefits; and rental expense on safe harbor lease property. For sellers or lessees of safe harbor leases the following subtractions shall be made to unadjusted income: interest income; and depreciation on safe harbor lease property.