Arkansas Code Title 26. Taxation § 26-51-811. Source of income--Reporting

(a)(1) Every individual, partnership, limited liability company, corporation, joint-stock company or association, or insurance company, being a resident or having a place of business in this state; members of a partnership or employees in whatever capacity acting, including lessees or mortgagees, of real or personal property; members or managers of limited liability companies or employees in whatever capacity acting; fiduciaries; employers and all officers and employees of this state, or of any political subdivision of this state, having the control, receipt, custody, disposal, or payment of interest, rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable annual or periodical gains, profits, and income amounting to two thousand five hundred dollars ($2,500) or over, paid or payable during any year to any taxpayer shall make complete returns under oath to the Secretary of the Department of Finance and Administration, under such rules and in such form and manner and to such extent as may be prescribed by the secretary with the approval of the Governor.

(2) Unless the income is so reported, the secretary may disallow such payments as deductions or credits in computing the tax of the payer.

(1) In the case of payments of interest upon bonds, mortgages, deeds of trust, or other similar obligations of corporations; and

(2) In the case of dividends paid by corporations.