[§231-3.1]  Consideration paid not
indicative of fair market value.  Where sales are made by a taxpayer,
taxable under title 14, to other affiliated companies or persons, or under
other circumstances where the relation between the taxpayer and the buyer is
such that the consideration paid, if any, is not indicative of the fair market
value, the taxpayer shall pay the taxes imposed under title 14, measured by the
fair market value, corresponding as nearly as possible to the gross proceeds of
sales of like quality and character by other persons, where no common interest
exists between the buyer and seller but the circumstances and conditions are
otherwise similar.  If no such comparable sales exist between nonaffiliated
buyers and sellers, the department may prescribe equitable and uniform rules
for ascertaining the fair market value of the sale.



As used in this section, "affiliated
companies or persons" means two or more organizations, trades, or
businesses (whether or not incorporated, organized in the United States, or
affiliated) owned or controlled directly or indirectly by the same interests,
including companies or persons described in section 237-23.5. [L 2002, c 153,
§2]