Arkansas § 26-51-802 Partnership returns

Arkansas Statutes

§ 26-51-802 — Partnership returns

(a)A partnership shall be classified and taxed for Arkansas income tax purposes in the same manner as it is classified and taxed for federal income tax purposes.

(b)(1) Every partnership filing an Arkansas partnership return shall state specifically the items of its gross income and the deductions allowed by the Income Tax Act of 1929, § 26-51-101 et seq., and shall include in the return the names and addresses of individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual.

(2)The returns shall be sworn to by one (1) of the partners.

(c)(1) A partnership that files an Arkansas partnership return and has income from both within and without Arkansas shall apportion income to Arkansas under the Uniform Division of

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(a) A partnership shall be classified and taxed for Arkansas income tax purposes in the same manner as it is classified and taxed for federal income tax purposes. (b) (1) Every partnership filing an Arkansas partnership return shall state specifically the items of its gross income and the deductions allowed by the Income Tax Act of 1929, § 26-51-101 et seq., and shall include in the return the names and addresses of individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual. (2) The returns shall be sworn to by one (1) of the partners. (c) (1) A partnership that files an Arkansas partnership return and has income from both within and without Arkansas shall apportion income to Arkansas under the Uniform Division of Income for Tax Purposes Act, § 26-51-701 et seq. (2) Subject to the provisions of § 26-51-202(e) , all partnership income from activities within this state shall be allocated to this state by each partner as determined and reported on the Arkansas partnership return. (3) If the apportionment of income by a partnership having income from both within and without Arkansas does not fairly represent the extent of the partnership's business activity in this state, the partnership may petition for or the Secretary of the Department of Finance and Administration may require, in respect to all or any part of the taxpayer's business activity, if reasonable: (A) Separate accounting; (B) The exclusion of any one (1) or more factors; (C) The inclusion of one (1) or more additional factors that will fairly represent the taxpayer's business activity in this state; or (D) The employment of any other method to effectuate an equitable allocation and apportionment of the taxpayer's partnership income.

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Legislative History

Amended by Act 2019, No. 910,§ 3733, eff. 7/1/2019. Amended by Act 2017, No. 482,§ 1, eff. for tax years beginning on and after 1/1/2018. Acts 1929, No. 118, Art. 4, § 18; Pope's Dig., § 14041; A.S.A. 1947, § 84-2023; Acts 1993, No. 785, § 14; 1999, No. 1283, § 2; 2003, No. 965, § 2.