Ark. Code § 4-27-1903

Current with legislation from 2024 Fiscal and Special Sessions.

Section 4-27-1903 - Definitions

As used in this subchapter:

(1) "Business" means a person or entity that:

(A) Performs a service or engages in a trade for profit and is required by the Internal Revenue Service to file a:

(i) Schedule C, Form 1040, Profit or Loss From Business, or its equivalent or successor form;

(ii) Schedule E, Form 1040, Supplemental Income and Loss, or its equivalent or successor form; or

(iii) Schedule F, Form 1040, Profit or Loss From Farming, or its equivalent or successor form, for that activity; or

(B) Is organized as a business under this chapter, including an entity that is required to file an annual report with the Secretary of State, whether or not the entity performs a service or engages in a trade or business for profit;

(2) "State business license" means any license issued to a business in this state; and

(3) "Wages" means any remuneration paid for personal services, including commissions and bonuses, and payable in any medium other than cash.

Ark. Code § 4-27-1903

Added by Act 2015, No. 1190,§ 2, eff. 7/22/2015.