§ 26-51-706 - Arkansas Statutes

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Implementing Financial Accounting Standards Board Interpretation (FIN) 48: U.S. Supreme Court Case Law Evaluating Unitary and Non-Unitary Factors

26-51-706. Capital gains and losses from sales of property.

(a) Capital gains and losses from sales of real property located in this state are allocable to this state.

(b) Capital gains and losses from sales of tangible personal property are allocable to this state if:

(1) The property had a situs in the state at the time of the sale; or

(2) The taxpayer's commercial domicile is in this state; or

(3) The property has been included in depreciation which has been allocated to this state; in which event gains or losses on those sales shall be allocated on the percentage that is used in the formula for allocating income to Arkansas during the year of those sales.

(c) Capital gains and losses from sales of intangible personal property are allocable to this state if the taxpayer's commercial domicile is in this state.