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26-51-918. Withholding — Deferred income.

Arkansas Code — all titles (historical 2020) · legal_authorities

26-51-918. Withholding — Deferred income.

26-51-918. Withholding — Deferred income. (a)(1) Title 26 U.S.C. § 3405, as in effect on January 1, 2005, regarding withholding from deferred income, is adopted as modified by subdivision (a)(2) of this section. (2) For the purposes of Arkansas withholding tax under this section: (A) The amount of withholding required under 26 U.S.C § 3405(b)(1) shall be three percent (3%); and (B) The amount of withholding required under 26 U.S.C. § 3405(c)(1)(B) shall be five percent (5%). (b) This section shall apply only when the payee is an Arkansas resident.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-918

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:26-51-918
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 94d44fcdc7e6ef926e76313e4834a0ebd6abc3165a7ca049f0c6defd92e7d649

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 3405 — Special rules for pensions, annuities, and certain other deferred income

**(a) Periodic payments** (1) **Withholding as if payment were wages** — The payor of any periodic payment (as defined in subsection (e)(2)) shall withhold from such payment the amount which would be required to be withheld from such payment if such payment were a payment of wages by an employer to an employee for the appropriate payroll period. (2) **Election of no withholding** — An individual may elect to have paragraph (1) not apply with respect to periodic payments made to such individual. Such an election shall remain in effect until revoked by such individual. (3) **When election takes effect** — Any election under this subsection (and any revocation of such an election) shall take effect as provided by subsection (f)(3) of section 3402 for withholding allowance certificates. (4) **Amount withheld where no withholding allowance certificate in effect** — In the case of any payment with respect to which a withholding allowance certificate is not in effect, the amount withheld under paragraph (1) shall be determined under rules prescribed by the Secretary. **(b) Nonperiodic distribution** (1) **Withholding** — The payor of any nonperiodic distribution (as defined in subsection (e)(3)) shall withhold from such distribution an amount equal to 10 percent of such distribution. (2) **Election of no withholding** (A) *In general* — An individual may elect not to have paragraph (1) apply with respect to any nonperiodic distribution. (B) *Scope of election* — An election under subparagraph (A)— (i) except as provided in clause (ii), shall be on a distribution-by-distribution basis, or (ii) to the extent provided in regulations, may apply to subsequent nonperiodic distributions made by the payor to the payee under the same arrangement. **(c) Eligible

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 3405

Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 3405. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 3405 — Special rules for pensions, annuities, and

Page 2849 TITLE 26—INTERNAL REVENUE CODE § 3405 of this Act [Mar. 15, 1966] and before May 1, 1966, shall take effect with respect to the first payment of wages made on or after May 1, 1966, or the 10th day after the date on which such certificate is furnished to the em- ployer, whichever is later, and at the election of the employer such certificate may be made effective with respect to any payment of wages made on or after the date on which such certificate is furnished.’’ MEANING OF TERMS Act Aug. 9, 1955, ch. 666, § 1, 69 Stat. 605, provided that: ‘‘The terms used in this Act [amending subsecs. (a) and (j) of this section] shall have the same meaning as when used in the Internal Revenue Code.’’ § 3403. Liability for tax The employer shall be liable for the payment of the tax required to be deducted and withheld under this chapter, and shall not be liable to any person for the amount of any such payment. (Aug. 16, 1954, ch. 736, 68A Stat. 469; Pub. L. 97–248, title III, §§ 307(a)(2), 308(a), Sept. 3, 1982, 96 Stat. 589, 591; Pub. L. 98–67, title I, § 102(a), Aug. 5, 1983, 97 Stat. 369.) Editorial Notes AMENDMENTS 1983—Pub. L. 98–67 repealed amendments made by Pub. L. 97–248. See 1982 Amendment note below. 1982—Pub. L. 97–248 provided that, applicable to pay- ments of interest, dividends, and patronage dividends paid or credited after June 30, 1983, this section is amended by striking out ‘‘this chapter’’ and inserting in lieu thereof ‘‘this subchapter’’. Section 102(a), (b) of Pub. L. 98–67, title I, Aug. 5, 1983, 97 Stat. 369, repealed subtitle A (§§ 301–308) of title III of Pub. L. 97–248 as of the close of June 30, 1983, and provided that the Inter- nal Revenue Code of 1954 [now 1986] [this title] shall be applied and administered (sub

Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 3405

Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 3405. This identifies an authority to review, not proof of applicability.