Added to taxable income are:

1. (1) Interest or dividend income derived from obligations or securities of states or political subdivisions, or authorities thereof, not included in taxable income as determined under the Internal Revenue Code;
2. (2) All income taxes paid or accrued, as applicable, during the tax year under the provisions of this chapter or under the provisions of any income tax, or franchise or privilege taxes measured by income levied by any other state or political subdivision to the extent that the taxes were deducted to determine federal taxable income;
3. (3) Any amount received as a refund of federal income taxes during the tax year if that amount was previously deducted in determining net income;
4. (4) Dividends received from other corporations to the extent that the dividends have been deducted from net income as determined under the Internal Revenue Code; and

5. (5) Any capital loss from:

   1. (a) Liquidating sales within the twelve-month period beginning on the date on which a financial institution adopts a plan of complete liquidation, if all the assets of the financial institution are distributed in complete liquidation, less assets retained to meet claims within the twelve-month period; or
   2. (b) The distribution of property in complete liquidation of the financial institution that is subject to federal corporate income taxes pursuant to § 336 of the Internal Revenue Code.

Source: SL 1977, ch 96 , § 4(1); SL 1978, ch 83 , § 1; SL 1987, ch 96 , §§ 1, 5; SL 2014, ch 60 , § 1, eff. Jan. 1, 2015; SL 2026, ch 51 , § 2.