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26-51-1509. Recordkeeping requirement.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-1509. Recordkeeping requirement.
For purposes of this subchapter, the recordkeeping provisions of § 26-18-506 requiring a taxpayer to maintain records for six (6) years after a return is filed shall be extended to require the taxpayer claiming a wetland and riparian zone creation and restoration tax credit under this subchapter to maintain the required records for the required minimum life of the project plus three (3) years.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-1509
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:26-51-1509
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a5177fc35af2b2c45377b7e6d96e8a161e07df882bfb7c4d8bf634e1e597cc80
Source location: content.xml paragraph 16398
Stored source content
26-51-1509. Recordkeeping requirement.
For purposes of this subchapter, the recordkeeping provisions of § 26-18-506 requiring a taxpayer to maintain records for six (6) years after a return is filed shall be extended to require the taxpayer claiming a wetland and riparian zone creation and restoration tax credit under this subchapter to maintain the required records for the required minimum life of the project plus three (3) years.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-18-506. Preservation of records by taxpayers.
(a) It is the duty of every taxpayer required to make a return of any tax due under any state tax law to keep and preserve suitable records as are necessary to determine the amount of tax due or to prove the accuracy of any return.
(b) Unless otherwise provided by law, the taxpayer is required to keep and maintain all records within the State of Arkansas and for at least six (6) years after a return was filed. These records are subject to examination by the Secretary of the Department of Finance and Administration at any reasonable time.
(c) When the records required by this section are kept outside the State of Arkansas in the usual course of business, they shall be produced within the state within fifteen (15) days after receipt of demand by the secretary. If the taxpayer determines it is impractical, then the taxpayer may request, and the secretary may grant, permission to have the records audited wherever they may be.
(d) When a taxpayer fails to preserve and maintain the records required by any state tax law, the secretary may, in his or her discretion, make an estimated assessment based upon information available to him or her as to the amount of tax due by the taxpayer. The burden of proof of refuting this estimated assessment is upon the taxpayer.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-18-506
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 26-18-506. This identifies an authority to review, not proof of applicability.