Browse Arkansas Code titles and sections
26-51-806. Filing returns — Time and place — Forms — Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-806. Filing returns — Time and place — Forms — Definitions.
(a)(1) Returns shall be in the form the Secretary of the Department of Finance and Administration prescribes and shall be filed with the secretary's office at Little Rock.
(2) Returns for all income taxes other than cooperative associations and exempt organizations shall be filed as follows:
(A) If covering the preceding calendar year, on or before April 15; or
(B) If covering a fiscal year, on or before the expiration of three and one-half (3½) months after the closing date of the period covered.
(3)(A) Returns for cooperative association income tax shall be filed as follows:
(i) If covering the preceding calendar year, on or before September 15; or
(ii) If covering a fiscal year, on or before the expiration of eight and one-half (8½) months after the closing date of the period covered.
(B) As used in this section, “cooperative association” means a cooperative association as described in 26 U.S.C. § 1381(a) as in effect on January 1, 2003.
(4)(A) Returns for an exempt organization that is required to file an income tax return shall be filed as follows:
(i) If covering the preceding calendar year, on or before May 15; or
(ii) If covering a fiscal year, on or before the expiration of four and one-half (4½) months after the closing date of the period covered.
(B) As used in this section, “exempt organization” means an organization as described in § 26-51-303.
(b)(1) The secretary shall cause to be prepared blank forms for the returns and shall cause them to be furnished upon application, but failure to receive or secure the forms shall not relieve any taxpayer from the obligation of making any return required by the Income Tax Act of 1929, § 26-51-101 et seq.
(2) As far as possi
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-806
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:26-51-806
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ee9e36be389c5a539d2e441e544ef6e690246ff89abd26066c2bd9db2a64cdfb
Source location: content.xml paragraph 14479
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26-51-806. Filing returns — Time and place — Forms — Definitions.
(a)(1) Returns shall be in the form the Secretary of the Department of Finance and Administration prescribes and shall be filed with the secretary's office at Little Rock.
(2) Returns for all income taxes other than cooperative associations and exempt organizations shall be filed as follows:
(A) If covering the preceding calendar year, on or before April 15; or
(B) If covering a fiscal year, on or before the expiration of three and one-half (3½) months after the closing date of the period covered.
(3)(A) Returns for cooperative association income tax shall be filed as follows:
(i) If covering the preceding calendar year, on or before September 15; or
(ii) If covering a fiscal year, on or before the expiration of eight and one-half (8½) months after the closing date of the period covered.
(B) As used in this section, “cooperative association” means a cooperative association as described in 26 U.S.C. § 1381(a) as in effect on January 1, 2003.
(4)(A) Returns for an exempt organization that is required to file an income tax return shall be filed as follows:
(i) If covering the preceding calendar year, on or before May 15; or
(ii) If covering a fiscal year, on or before the expiration of four and one-half (4½) months after the closing date of the period covered.
(B) As used in this section, “exempt organization” means an organization as described in § 26-51-303.
(b)(1) The secretary shall cause to be prepared blank forms for the returns and shall cause them to be furnished upon application, but failure to receive or secure the forms shall not relieve any taxpayer from the obligation of making any return required by the Income Tax Act of 1929, § 26-51-101 et seq.
(2) As far as possible and practicable for filing returns for income tax, the secretary shall use the same form of blanks as is used by the United States down to the net income part of the form.
(c)(1) In filing an income tax return in the State of Arkansas, a taxpayer shall not be required to execute any affidavit or other statement under oath, but shall make the following statement, which shall be annexed to the return:
“I declare, under the penalties of perjury, that the foregoing statements are true to the best of my knowledge and belief and that all my income is reported hereon.” (Year)
(2) The statement shall be signed by the taxpayer filing the return.
(d)(1) Every corporation filing a return under the Income Tax Act of 1929, § 26-51-101 et seq., shall attach to the return a completed copy of its federal tax return for the same income year, including all schedules and attachments.
(2) As used in this subsection, “corporation” means a Subchapter C corporation as defined in 26 U.S.C. § 1361(a), in effect January 1, 1989.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) S corporation defined**
(1) **In general** — For purposes of this title, the term “S corporation” means, with respect to any taxable year, a small business corporation for which an election under section 1362(a) is in effect for such year.
(2) **C corporation** — For purposes of this title, the term “C corporation” means, with respect to any taxable year, a corporation which is not an S corporation for such year.
**(b) Small business corporation**
(1) **In general** — For purposes of this subchapter, the term “small business corporation” means a domestic corporation which is not an ineligible corporation and which does not—
(A) have more than 100 shareholders,
(B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2), or an organization described in subsection (c)(6)) who is not an individual,
(C) have a nonresident alien as a shareholder, and
(D) have more than 1 class of stock.
(2) **Ineligible corporation defined** — For purposes of paragraph (1), the term “ineligible corporation” means any corporation which is—
(A) a financial institution which uses the reserve method of accounting for bad debts described in section 585,
(B) an insurance company subject to tax under subchapter L, or
(C) a DISC or former DISC.
(3) **Treatment of certain wholly owned subsidiaries**
(A) *In general* — Except as provided in regulations prescribed by the Secretary, for purposes of this title—
(i) a corporation which is a qualified subchapter S subsidiary shall not be treated as a separate corporation, and
(ii) all assets, liabilities, and items of income, deduction, and credit of a qualified subchapter S subsidiary shall be treated as assets, liabilities, and such items (as the case may be) of the S corp
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1361
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 1361. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 2439
TITLE 26—INTERNAL REVENUE CODE
§ 1361
later date as the Secretary may designate on
application by the taxpayer.
Such application shall be made at such time and
in such manner as the Secretary may by regula-
tions prescribe.
(c) Application of section to noncorporate opera-
tors
For purposes of this section, the term ‘‘quali-
fying vessel operator’’ includes any person who
would be a qualifying vessel operator were such
person a corporation.
(d) Time for assessment of deficiency attrib-
utable to gain
If a qualifying vessel operator has made the
election provided in subsection (a), then—
(1) the statutory period for the assessment of
any deficiency, for any taxable year in which
any part of the gain is realized, attributable to
such gain shall not expire prior to the expira-
tion of 3 years from the date the Secretary is
notified by such operator (in such manner as
the Secretary may by regulations prescribe) of
the replacement qualifying vessel or of an in-
tention not to replace, and
(2) such deficiency may be assessed before
the expiration of such 3-year period notwith-
standing the provisions of section 6212(c) or
the provisions of any other law or rule of law
which would otherwise prevent such assess-
ment.
(e) Basis of replacement qualifying vessel
In the case of any replacement qualifying ves-
sel purchased by the qualifying vessel operator
which resulted in the nonrecognition of any part
of the gain realized as the result of a sale or
other disposition of a qualifying vessel, the basis
shall be the cost of the replacement qualifying
vessel decreased in the amount of the gain not
so recognized; and if the property purchased
consists of more than one piece of property, the
basis determined under this sentence shall be al-
locat
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 1361
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 1361. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** This part shall apply to—
(1) any organization exempt from tax under section 521 (relating to exemption of farmers’ cooperatives from tax), and
(2) any corporation operating on a cooperative basis other than an organization—
(A) which is exempt from tax under this chapter,
(B) which is subject to the provisions of—
(i) part II of subchapter H (relating to mutual savings banks, etc.), or
(ii) subchapter L (relating to insurance companies), or
(C) which is engaged in furnishing electric energy, or providing telephone service, to persons in rural areas.
**(b) Tax on certain farmers’ cooperatives** An organization described in subsection (a)(1) shall be subject to the tax imposed by section 11.
**(c) Cross reference** For treatment of income from load loss transactions of organizations described in subsection (a)(2)(C), see section 501(c)(12)(H).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1381
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 1381. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 2469
TITLE 26—INTERNAL REVENUE CODE
§ 1381
sion Act of 1982) shall continue to apply with re-
spect to distributions of undistributed taxable
income for any taxable year beginning before
January 1, 1983.
(d) Carryforwards
If a corporation was an electing small business
corporation for the last preenactment year and
is an S corporation for the 1st postenactment
year, any carryforward to the 1st postenactment
year which arose in a taxable year for which the
corporation was an electing small business cor-
poration shall be treated as arising in the 1st
postenactment year.
(e) Preenactment and postenactment years de-
fined
For purposes of this subsection—
(1) Last preenactment year
The term ‘‘last preenactment year’’ means
the last taxable year of a corporation which
begins before January 1, 1983.
(2) 1st postenactment year
The term ‘‘1st postenactment year’’ means
the 1st taxable year of a corporation which be-
gins after December 31, 1982.
(Added Pub. L. 97–354, § 2, Oct. 19, 1982, 96 Stat.
1686; amended Pub. L. 98–369, div. A, title VII,
§ 721(n), July 18, 1984, 98 Stat. 969.)
Editorial Notes
REFERENCES IN TEXT
The enactment of the Subchapter S Revision Act of
1982, referred to in subsecs. (a) to (c), is the enactment
of Pub. L. 97–354, which was approved Oct. 19, 1982.
PRIOR PROVISIONS
A prior section 1379, added Pub. L. 91–172, title V,
§ 531(a), Dec. 30, 1969, 83 Stat. 654; amended Pub. L.
93–406, title II, § 2001(b), Sept. 2, 1974, 88 Stat. 952; Pub.
L. 97–34, title III, § 312(c)(6), Aug. 13, 1981, 95 Stat. 284;
Pub. L. 97–248, title II, § 238(c), Sept. 3, 1982, 96 Stat. 513,
related to certain qualified pension, etc., plans, prior to
the general revision of this subchapter by section 2 of
Pub. L. 97–354.
AMENDMENTS
1984—Subse
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 1381
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 1381. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-101. Title.
This act shall be known and may be cited as the “Income Tax Act of 1929”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-101
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 26-51-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-303. Exempt organizations.
(a) The following organizations shall be exempt from taxation under the Income Tax Act of 1929, § 26-51-101 et seq.:
(1) Fraternal benefit societies, orders, or associations:
(A) Operating under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system; and
(B) Providing for the payment of life, sickness, accident, or other benefits to the members of such society, order, or association or their dependents;
(2) Domestic life and disability insurance companies and foreign insurance companies;
(3) Cemetery corporations;
(4) Business leagues, chambers of commerce, or boards of trade not organized for profit and no part of the net earnings of which inures to the benefit of any private stockholders or individuals;
(5) Civic leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare;
(6) Farmers' or other mutual hail, cyclone, or fire insurance companies, or other domestic insurance companies writing lines of insurance other than those specified in subdivisions (a)(1) and (2) of this section, mutual ditch or irrigation companies, mutual or cooperative telephone companies, or like organizations of a purely local character, but only if eighty-five percent (85%) or more of the income of the organization consists solely of assessments, dues, and fees collected from members for the sole purpose of meeting losses and expenses;
(7) Farmers', fruit growers', or like organizations organized and operated as sales agent for the purpose of marketing the products of members and turning back to them the proceeds of sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them;
(8) Labor,
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-303
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 26-51-303. This identifies an authority to review, not proof of applicability.