Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
Regulation 1997-4 - Comprehensive Individual Income Tax Regulations
Rule 26-51-203 - FIDUCIARIES
Rule 1.26-51-203 - Fiduciaries - Generally
Current through Register Vol. 49, No. 9, September, 2024
Arkansas income tax shall be levied against and paid by resident fiduciaries on the net income of:
(a) Estates and trusts which has not been distributed (or become distributable) to beneficiaries during the tax year;
b) deceased individuals received during the tax year who at the time of their death were residents and who died during the tax year without having made a return;
c) resident insolvent or incompetent individuals, whether or not any portion thereof is held for the future use of such individuals, where the fiduciary has complete charge of the net income.
Where there are two (2) or more joint fiduciaries, part of whom are nonresidents of Arkansas, the net income taxable to the fiduciaries shall be allocated equally. The income tax imposed upon a fiduciary shall be a charge against the estate or trust, as opposed to a charge against the fiduciary personally.
