(a) As used in this Act, unless the context otherwise requires:(a) “Apportionable income” means:(1) All income that is apportionable under the United States Constitution and is not allocated under the laws of this state, including:(A) income arising from transactions and activity in the regular course of the taxpayer's trade or business; and(B) income arising from tangible and intangible property if the acquisition, management, employment, development, or disposition of the property is or was related to the operation of the taxpayer's trade or business; and(2) Any income that would be allocable to this state under the United States Constitution, but that is apportioned rather than allocated pursuant to the laws of this state.(b) “Commercial domicile” means the principal place from which the trade or business of the taxpayer is directed or managed.(c) “Compensation” means wages, salaries, commissions, and any other form of remuneration paid to employees for personal services.(d) [Repealed.](e) “Nonapportionable income” means all income other than apportionable income.(f) “Public utility” means any business entity which owns or operates for public use any plant, equipment, property, franchise, or license for the transmission of communications, transportation of goods or persons, or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, oil, oil products, or gas.(g) “Receipts” means all gross receipts of the taxpayer not allocated under §§ 26-51-704 — 26-51-708 and that are received from transactions and activity in the regular course of the taxpayer's trade or business; except that receipts of a taxpayer from hedging transactions and from the maturity, redemption, sale, exchange, loan, or other disposition of cash or securities shall be excluded.(h) “State” means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof.(i) “This state” means the State of Arkansas.
(a) “Apportionable income” means:(1) All income that is apportionable under the United States Constitution and is not allocated under the laws of this state, including:(A) income arising from transactions and activity in the regular course of the taxpayer's trade or business; and(B) income arising from tangible and intangible property if the acquisition, management, employment, development, or disposition of the property is or was related to the operation of the taxpayer's trade or business; and(2) Any income that would be allocable to this state under the United States Constitution, but that is apportioned rather than allocated pursuant to the laws of this state.
(1) All income that is apportionable under the United States Constitution and is not allocated under the laws of this state, including:(A) income arising from transactions and activity in the regular course of the taxpayer's trade or business; and(B) income arising from tangible and intangible property if the acquisition, management, employment, development, or disposition of the property is or was related to the operation of the taxpayer's trade or business; and
(A) income arising from transactions and activity in the regular course of the taxpayer's trade or business; and
(B) income arising from tangible and intangible property if the acquisition, management, employment, development, or disposition of the property is or was related to the operation of the taxpayer's trade or business; and
(2) Any income that would be allocable to this state under the United States Constitution, but that is apportioned rather than allocated pursuant to the laws of this state.
(b) “Commercial domicile” means the principal place from which the trade or business of the taxpayer is directed or managed.
(c) “Compensation” means wages, salaries, commissions, and any other form of remuneration paid to employees for personal services.
(d) [Repealed.]
(e) “Nonapportionable income” means all income other than apportionable income.
(f) “Public utility” means any business entity which owns or operates for public use any plant, equipment, property, franchise, or license for the transmission of communications, transportation of goods or persons, or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, oil, oil products, or gas.
(g) “Receipts” means all gross receipts of the taxpayer not allocated under §§ 26-51-704 — 26-51-708 and that are received from transactions and activity in the regular course of the taxpayer's trade or business; except that receipts of a taxpayer from hedging transactions and from the maturity, redemption, sale, exchange, loan, or other disposition of cash or securities shall be excluded.
(h) “State” means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof.
(i) “This state” means the State of Arkansas.