Browse Arkansas Code titles and sections
26-52-322. Withdrawals from stock — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-52-322. Withdrawals from stock — Definition.
(a) As used in this section, “withdrawal from stock” means the withdrawal or use of goods, wares, merchandise, or tangible personal property from an established business or from the stock in trade of the established reserves of an established business for consumption or use in the established business or by any other person.
(b)(1) The gross receipts tax levied by this chapter and the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., are levied on a withdrawal from stock.
(2) For purposes of calculating the gross receipts tax or the compensating use tax under subdivision (b)(1) of this section, the gross receipts or gross proceeds for a withdrawal from stock is:
(A) The value of the goods, wares, merchandise, or tangible personal property withdrawn if the goods, wares, merchandise, or tangible personal property:
(i) Were withdrawn for consumption or use in the established business; or
(ii) Are alcoholic beverages or tobacco products; or
(B) Zero dollars ($0.00) if the goods, wares, merchandise, or tangible personal property, other than alcoholic beverages or tobacco products, were withdrawn for consumption or use by a:
(i) Nonprofit organization described in 26 U.S.C. § 501(c)(3), as it existed on January 1, 2019;
(ii) Public educational institution;
(iii) Nonprofit church; or
(iv) Private individual who has suffered damage or loss as the result of a natural disaster if:
(a) The private individual receiving the goods, wares, merchandise, or tangible personal property resides in an area of the state that the Governor has officially declared to be a disaster area; and
(b) A representative of the established business provides a sworn affidavit to the Depar
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-52-322
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:26-52-322
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c2aa429b5ff43ef3ef3bf2f67f2b355c6b03ff06faeffbc62deaf4de6eea7fa0
Source location: content.xml paragraph 18685
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26-52-322. Withdrawals from stock — Definition.
(a) As used in this section, “withdrawal from stock” means the withdrawal or use of goods, wares, merchandise, or tangible personal property from an established business or from the stock in trade of the established reserves of an established business for consumption or use in the established business or by any other person.
(b)(1) The gross receipts tax levied by this chapter and the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq., are levied on a withdrawal from stock.
(2) For purposes of calculating the gross receipts tax or the compensating use tax under subdivision (b)(1) of this section, the gross receipts or gross proceeds for a withdrawal from stock is:
(A) The value of the goods, wares, merchandise, or tangible personal property withdrawn if the goods, wares, merchandise, or tangible personal property:
(i) Were withdrawn for consumption or use in the established business; or
(ii) Are alcoholic beverages or tobacco products; or
(B) Zero dollars ($0.00) if the goods, wares, merchandise, or tangible personal property, other than alcoholic beverages or tobacco products, were withdrawn for consumption or use by a:
(i) Nonprofit organization described in 26 U.S.C. § 501(c)(3), as it existed on January 1, 2019;
(ii) Public educational institution;
(iii) Nonprofit church; or
(iv) Private individual who has suffered damage or loss as the result of a natural disaster if:
(a) The private individual receiving the goods, wares, merchandise, or tangible personal property resides in an area of the state that the Governor has officially declared to be a disaster area; and
(b) A representative of the established business provides a sworn affidavit to the Department of Finance and Administration with the report required under § 26-52-501 describing in detail the goods, wares, merchandise, or tangible personal property withdrawn and the disaster area in which each recipient of the withdrawn goods, wares, merchandise, or tangible personal property resides.
(c) The Secretary of the Department of Finance and Administration may promulgate rules to implement this section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Exemption from taxation** An organization described in subsection (c) or (d) or section 401(a) shall be exempt from taxation under this subtitle unless such exemption is denied under section 502 or 503.
**(b) Tax on unrelated business income and certain other activities** An organization exempt from taxation under subsection (a) shall be subject to tax to the extent provided in parts II, III, and VI of this subchapter, but (notwithstanding parts II, III, and VI of this subchapter) shall be considered an organization exempt from income taxes for the purpose of any law which refers to organizations exempt from income taxes.
**(c) List of exempt organizations** The following organizations are referred to in subsection (a):
(1) Any corporation organized under Act of Congress which is an instrumentality of the United States but only if such corporation—
(A) is exempt from Federal income taxes—
(i) under such Act as amended and supplemented before July 18, 1984, or
(ii) under this title without regard to any provision of law which is not contained in this title and which is not contained in a revenue Act, or
(B) is described in subsection (l).
(2) Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt under this section. Rules similar to the rules of subparagraph (G) of paragraph (25) shall apply for purposes of this paragraph.
(3) Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition (but only
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 501
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 501. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1660
TITLE 26—INTERNAL REVENUE CODE
§ 501
1 So in original. Probably should be ‘‘Certain savings entities.’’
and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L.
99–514 require an amendment to any plan, such plan
amendment shall not be required to be made before the
first plan year beginning on or after Jan. 1, 1989, see
section 1140 of Pub. L. 99–514, as amended, set out as a
note under section 401 of this title.
TREATMENT OF TRANSFERS OF LAND BETWEEN
RELATED PARTIES
Pub. L. 99–514, title XVIII, § 1803(a)(9), Oct. 22, 1986, 100
Stat. 2794, provided that: ‘‘In the case of any sale or ex-
change before July 1, 1985, to which section 483(f) of the
Internal Revenue Code of 1954 [now 1986] (as in effect on
the day before the date of the enactment of Public Law
99–121 [Oct. 11, 1985]) applies, such section shall be
treated as providing that the discount rate to be used
for purposes of section 483(c)(1) of such Code shall be 6
percent, compounded semiannually.’’
TRANSITIONAL RULE FOR PURPOSES OF IMPUTED
INTEREST RULES
Provisions, respecting treatment of debt instruments
received in exchange for property, relating to special
rules for sales after Dec. 31, 1984, and before July 1, 1985,
general rule for assumptions of loans, exception for as-
sumptions of loans made on or before Oct. 15, 1984, and
exception for assumptions of loans with respect to cer-
tain property, see section 44(b)(4)–(7) of Pub. L. 98–369,
as amended, set out as an Effective Date note under
section 1271 of this title.
Subchapter F—Exempt Organizations
Part
I.
General rule.
II.
Private foundations.
III.
Taxation of business income of certain ex-
empt organizations.
IV.
Farmers’ cooperatives.
V.
Shipowners’ protection and indemnity asso-
ciations.
VI.
Political org
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 501
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 501. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-52-501. Preparation of returns — Payment of tax.
(a)(1) The tax levied under this chapter shall be due and payable on the first day of each month, except as provided in this subchapter, by any person liable for the payment of any tax due under this chapter.
(2) When a taxpayer becomes liable to file a report with the Secretary of the Department of Finance and Administration, the taxpayer must continue to file the report, even though no tax is due, until such time as the taxpayer notifies the secretary, in writing, that the taxpayer is no longer liable for the report.
(b)(1) For the purpose of ascertaining the amount of tax payable under this chapter, it shall be the duty of all taxpayers on or before the twentieth day of each month to deliver to the secretary, upon forms prescribed and furnished by the secretary, returns showing the total tax due derived from all taxable sales during the preceding calendar month.
(2) The returns shall show such further information as the secretary may require to enable the secretary to compute correctly and collect the tax levied.
(3) Whether an individual, corporation, partnership, limited liability company, or other entity, every taxpayer shall file a single report combining all taxes due derived from sales made from all Arkansas locations of the taxpayer's business which are registered and permitted with the secretary under the same federal employer's identification number or Social Security number.
(c) In addition to the information required on returns, the secretary may request and the taxpayer must furnish any information deemed necessary for a correct computation of the tax levied.
(d) The tax shall be computed by multiplying the tax rate by the amount of the total combined gross receipts or gross proceeds derive
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-52-501
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 26-52-501. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-53-101. Title.
The title of this subchapter shall be cited as the “Arkansas Compensating Tax Act of 1949”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-53-101
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 26-53-101. This identifies an authority to review, not proof of applicability.