Arkansas Reservations of Other Interests
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How to fill out Reservations Of Other Interests?
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FAQ
State Income Tax Filing Requirements To claim any refund due, you must file an Arkansas income tax return. Residents of Ar- kansas must complete Form AR1000. Nonresidents and Part-Year Residents must complete Form AR1000NR.
(Small Businesses) 1. The business must be registered with the Arkansas Secretary of State. 2. The business must elect Subchapter S treatment for federal income tax purposes by filing an Election by Small Business (Form 2553) with the IRS.
If you want to file just a federal return, and not file a state return(s), you need to make sure that your state return(s) are not selected for electronic filing at the time of filing your return.
Arkansas has a graduated individual income tax, with rates ranging from 2.00 percent to 4.90 percent. Arkansas also has a 1.0 to 5.30 percent corporate income tax rate.
Arkansas standard deduction for tax year 2021 is $4,400 for married filing jointly and $2,200 for all other filers.
Any PY resident who received any taxable income while an Arkansas resident must file a return, regardless of filing status or gross income amount.
Form AR1050 is used to file the income of a partnership. Every domestic or foreign partnership doing business within the State of Arkansas or in receipt of income from Arkansas sources, regardless of amount, must file an AR1050.
Tax-free states Alaska. Florida. Nevada. South Dakota. Texas. Washington. Wyoming.
