Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
1998-1 - Comprehensive Corporation Income Tax Regulations
Rule 26-51-404 - GROSS INCOME GENERALLY
Rule 13.26-51-404(a)(1) - Voluntary Shareholder Payments

Where a corporation requires additional funds for conducting its business and obtains such funds through voluntary pro rata payments by its shareholders and the amount so received is credited to its surplus account or to a special capital account, such amounts will not be considered income, even though there is no increase in the outstanding shares of stock of the corporation. The payments in such circumstances are in the nature of voluntary assessments that represent an additional price paid for the shares of stock held by the individual shareholder, and will be considered as an addition to and a part of the operating capital of the company.