Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
Regulation 1997-4 - Comprehensive Individual Income Tax Regulations
Rule 26-51-102 - DEFINITIONS
Rule 3.26-51-102(4) - Publicly Traded Partnership (PTP)

Universal Citation: AR Admin Rules 3.26-51-102(4)

Current through Register Vol. 49, No. 9, September, 2024

A publicly traded partnership (PTP) is taxable as a corporation. IRC Sec. 7704(a). A partnership is a publicly traded partnership if interests in the partnership either:

(1) are traded on an established securities market, or

(2) are readily tradable on a secondary market or its substantial equivalent. IRC Sec. 7704(b). However, a publicly traded partnership won't be treated as a corporation if, for each tax year beginning after 1987, at least 90% of its gross income is specified passive-type income, and certain other requirements are met. IRC Sec. 7704(c). Certain existing partnerships that were publicly traded partnerships on December 17, 1987, won't be treated as corporations until tax years beginning after 1997.

Disclaimer: These regulations may not be the most recent version. Arkansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.