2015 Arkansas Code
Title 26 - Taxation
Subtitle 5 - State Taxes
Chapter 51 - Income Taxes
Subchapter 4 - Computation of Tax Liability
§ 26-51-407 - Financial institutions.
(a) A financial institution having its principal office in this state shall be taxed as a business corporation organized and existing under the laws of this state.
(b) (1) A financial institution having its principal office outside this state but doing business in this state shall be taxed as a foreign business corporation doing business in this state.
(2) However, this subsection is not intended to recognize the right of a foreign financial institution to conduct any business activities in this state except to the extent and under the conditions permitted by Acts 1953, No. 559, ยงยง 1-8 [unconstitutional] and any other applicable laws of this state.
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