Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
1998-1 - Comprehensive Corporation Income Tax Regulations
Rule 26-51-804 - CORPORATION RETURNS
Rule 1.26-51-804(d) - Bankruptcy, Dissolution and Receivership

A receiver, assignee or trustee operating the property or business of a taxpayer, must file an income tax return for such taxpayer (Form AR1100CT) for each year or part of a year during which the fiduciary is in control. Because the powers and functions of the taxpayer are suspended and the taxpayer's property and business are for the time being in the custody of a fiduciary, the fiduciary stands in the place of the taxpayer's officers and is required to perform all the duties and assume all the liabilities which would normally rest with the taxpayer's officers were they in control. A fiduciary in charge of only part of the property of a taxpayer, such as a receiver in mortgage foreclosure proceedings involving only a small portion of the taxpayer's property, need not file an Arkansas corporation income tax return on behalf of the taxpayer.