Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
Regulation 1997-4 - Comprehensive Individual Income Tax Regulations
Rule 26-51-409 - FEDERAL SUBCHAPTER S ADOPTED
Rule 5.26-51-409 - Consistency Between S Corporation Returns and Shareholders' Returns

An S corporation shareholder should generally treat a Subchapter S item on his own individual income tax return consistently with the treatment of that item on the S corporation's return. If the shareholder treats an item or items inconsistently between his return and the corporation's return, the shareholder must notify the Department's Individual Income Tax Section (as well as the IRS) of the inconsistency. This notification should be provided on IRS Form 8082.