The property factor is a fraction, the numerator of which is the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the tax period and the denominator of which is the average value of all the taxpayer's real and tangible personal property owned or rented and used during the tax period.
Ark. Code Ann. § 26-51-710
Real and tangible personal property — Factor. [Repealed effective January 1, 2021.]
Applied in 2 court decisions — leading case Pledger v. Getty Oil Exploration Co. (1992)
Most recently applied in Brunswick Corp. v. Director, Div. of Taxation (March 1994)
Acts 1961, No. 413, § 10; A.S.A. 1947, § 84-2064.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.