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19-5-903. Corporate Income Tax Withholding Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-903. Corporate Income Tax Withholding Fund.
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Corporate Income Tax Withholding Fund”.
(b) The Corporate Income Tax Withholding Fund shall consist of those general revenues transferred to the Corporate Income Tax Withholding Fund under the provisions of § 19-5-201 et seq. and those funds received from the Budget Stabilization Trust Fund as provided in § 19-5-501 et seq.
(c) The Corporate Income Tax Withholding Fund shall be used to make income tax refunds to corporate taxpayers in such amounts as may be determined by the Chief Fiscal Officer of the State or the courts and for repaying temporary loans made during each month from the Budget Stabilization Trust Fund, as may be required.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-903
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:19-5-903
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2ebd6c6df72f895a51e23b4332787bda19962a13407403b36f69469f6cc43969
Source location: content.xml paragraph 6431
Stored source content
19-5-903. Corporate Income Tax Withholding Fund.
(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Corporate Income Tax Withholding Fund”.
(b) The Corporate Income Tax Withholding Fund shall consist of those general revenues transferred to the Corporate Income Tax Withholding Fund under the provisions of § 19-5-201 et seq. and those funds received from the Budget Stabilization Trust Fund as provided in § 19-5-501 et seq.
(c) The Corporate Income Tax Withholding Fund shall be used to make income tax refunds to corporate taxpayers in such amounts as may be determined by the Chief Fiscal Officer of the State or the courts and for repaying temporary loans made during each month from the Budget Stabilization Trust Fund, as may be required.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-201. State Apportionment Fund.
(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “State Apportionment Fund”. After July 1, 1973, all general revenues and all special revenues, as defined in the Revenue Classification Law, § 19-6-101 et seq., shall be deposited by the Treasurer of State into the State Apportionment Fund, there to be handled and distributed as provided in this subchapter.
(b) All revenue received by the Treasurer of State by 4:00 p.m. of any normal working day shall be deposited and so credited to the State Apportionment Fund as occurring on that day and shall be deemed to be gross revenues for that respective day. For the purposes of accounting for such revenue, the Treasurer of State shall credit it to the proper fund account of the State Apportionment Fund as established by this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-201
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-5-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-501. Fund generally.
(a)(1) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Budget Stabilization Trust Fund”.
(2) The Budget Stabilization Trust Fund shall consist of funds made available and transferred to it from the Securities Reserve Fund as set out in § 19-5-905, the fund balance and other assets remaining in the State Budget Revolving Fund on June 30, 1987, and any other funds made available by law.
(b) The Budget Stabilization Trust Fund shall be used for the purpose of:
(1)(A) Making temporary loans to those funds and fund accounts as set out in § 19-5-401 et seq., to the Division of Correction Farm Fund for farm production purposes, to the Division of Correction Prison Industry Fund, to the Department of Parks, Heritage, and Tourism Fund Account, to the Income Tax Refund Fund, to the Gasoline Tax Refund Fund, to the Interstate Motor Fuel Tax Refund Fund, and to the various funds established in the Revenue Classification Law, § 19-6-101 et seq., and any other funds or fund accounts as may be specified elsewhere in this section. The loans made to the funds and fund accounts set out in § 19-5-401 et seq. shall be repaid on or before June 30 of the fiscal year in which the loan is made, except as provided elsewhere in this section.
(B) The loans made to the Division of Correction Farm Fund are to be repaid on or before June 30 of the fiscal year following the fiscal year in which the loan was made after the amount of the outstanding loan made the previous fiscal year has been reduced by the value of products produced or processed on the farm that were consumed by inmates and other authorized personnel, in amounts as determined and certified by the
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-501
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 19-5-501. This identifies an authority to review, not proof of applicability.