(1) (a) For purchasers or lessors of safe harbor leases, the following additions shall be made to unadjusted income: (i) interest expense; and (ii) depreciation claimed on safe harbor lease property. (b) For purchasers or lessors of safe harbor leases, the following subtractions shall be made from unadjusted income: (i) rental income; and (ii) amortization of the purchase price of tax benefits. (2) (a) For sellers or lessees of safe harbor leases the following additions shall be made from unadjusted income: (i) the amount of gain on the sale of federal tax benefits; and (ii) rental expense on safe harbor lease property. (b) For sellers or lessees of safe harbor leases the following subtractions shall be made to unadjusted income: (i) interest income; and (ii) depreciation on safe harbor lease property. Repealed and Re-enacted by Chapter 169, 1993 General Session
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