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006.05.307-26-51-803. FIDUCIARY RETURNS

AR ADC 006.05.307-26-51-803Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 05. Division of Revenues
Rule 307. Comprehensive Individual Income Tax Regulations (Refs & Annos)
Ark. Admin. Code 006.05.307-26-51-803
006.05.307-26-51-803. FIDUCIARY RETURNS
Currentness
1.26-51-803 Fiduciary Returns -- Generally
A fiduciary return (AR1002) is used to report the income of an estate or trust. The income received by an estate or trust will be considered attributable to Arkansas when the estate or trust's trustee, administrator, executor or personal representative is a resident of Arkansas. Likewise, the income received by an estate or trust shall be attributable to Arkansas when the estate or trust is physically located within Arkansas. As such, a fiduciary return must be filed by every resident (AR1002) and nonresident (AR1002NR) fiduciary under the following circumstances:
1. Any income of such estate or trust is currently distributable.
2. The tax is payable by the beneficiaries or by the grantor.
3. The net income of such estate or trust is $3,000.00 or over.
4. Any beneficiary of such estate or trust is a nonresident.
Pursuant to ACA 26-51-201(b) and (c), a limited exemption from Arkansas income tax has been established for resident fiduciaries under the following circumstances:
1. The trust or estate was created by a nonresident individual; or
2. The beneficiary of a trust is a nonresident.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.307-26-51-803, AR ADC 006.05.307-26-51-803
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