Browse Arkansas Code titles and sections
26-19-106. Payment by corporation.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-19-106. Payment by corporation.
(a) If the Secretary of the Department of Finance and Administration determines that a corporation's estimated quarterly state income tax liability under § 26-51-911 et seq. equals or exceeds twenty thousand dollars ($20,000), the corporation shall pay the quarterly income taxes due by electronic funds transfer.
(b) A corporation's quarterly liability shall be determined on the basis of average quarterly liability for the preceding year.
(c)(1) The transfer shall be made no later than the day before the due date for payment of the taxes so that payment of the taxes is received by the secretary on or before the due date for payment of the taxes as required by the laws of this state.
(2) If the corporation's income tax payment is timely made by electronic funds transfer, the corporation is not required to file a quarterly estimated tax declaration.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-19-106
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:26-19-106
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 30e3926cb871346cc31b94a5a59660da72af5146b0ef2d40c763bc72c3e65605
Source location: content.xml paragraph 3253
Stored source content
26-19-106. Payment by corporation.
(a) If the Secretary of the Department of Finance and Administration determines that a corporation's estimated quarterly state income tax liability under § 26-51-911 et seq. equals or exceeds twenty thousand dollars ($20,000), the corporation shall pay the quarterly income taxes due by electronic funds transfer.
(b) A corporation's quarterly liability shall be determined on the basis of average quarterly liability for the preceding year.
(c)(1) The transfer shall be made no later than the day before the due date for payment of the taxes so that payment of the taxes is received by the secretary on or before the due date for payment of the taxes as required by the laws of this state.
(2) If the corporation's income tax payment is timely made by electronic funds transfer, the corporation is not required to file a quarterly estimated tax declaration.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-911. Declaration of estimated tax.
(a) Every taxpayer subject to the tax levied by the Income Tax Act of 1929, § 26-51-101 et seq., shall make and file with the Secretary of the Department of Finance and Administration a declaration of the estimated tax for the income year if the taxpayer can reasonably expect the estimated tax to be more than one thousand dollars ($1,000).
(b) The declaration of estimated tax shall be made on such forms and shall include such information as the secretary shall prescribe.
(c)(1) The declaration shall be filed with the secretary on or before the fifteenth day of the fourth month of the income year of the taxpayer.
(2) However, taxpayers whose income from farming for the income year can reasonably be expected to amount to at least two-thirds (2/3) of the total gross income from all sources for the income year may file the declaration and pay the estimated tax on or before the fifteenth day of the second month after the close of the income year, or in lieu of filing any declaration, may file an income tax return and pay the tax on or before the fifteenth day of the third month after the close of the income year.
(d) A taxpayer who, due to a change of circumstances, first meets the requirements for filing a declaration after the fifteenth day of the fourth month of the income year shall make and file the declaration on or before the next regular quarterly tax payment date.
(e)(1) A single declaration may be filed jointly by a husband and wife having the same income year.
(2) If a joint declaration is filed by a husband and wife and they do not file a joint return for the income year, the estimated tax paid under the joint declaration may be treated as the estimated tax of either the husband or wife or may be divided betw
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-911
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 26-51-911. This identifies an authority to review, not proof of applicability.