Statutes, codes, and regulations
Arkansas Administrative Code
Agency 006 - Department of Finance and AdministrationDivision 05 - Division of RevenuesComprehensive Corporation Income Tax Regulations
Rule 26-51-404 - GROSS INCOME GENERALLY
Rule 1.26-51-404(b)(1) - Gain on Compulsorily or Involuntarily Converted Property

1.26 Ark. Code R. 51-404(b)(1)

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Current through Register Vol. 49, No. 10, October, 2024
Rule 1.26-51-404(b)(1) - Gain on Compulsorily or Involuntarily Converted Property

Section 1033 of the Internal Revenue Code of 1986, as in effect on January 1, 1997 relating to the exclusion from gross income of gain resulting from the involuntary conversion of a taxpayer's property, has been adopted for the purpose of computing Arkansas income tax liability. Refer to Treasury Regulations § 1.1033(a) -1 et seq. for guidance on such matters.

1.26 Ark. Code R. 51-404(b)(1)