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Ark. Code Ann. § 4-27-1903

Definitions

Known as the Arkansas Business Corporation Act

The act spans §§ 4–4 (323 sections).

Acts 2015, No. 1190, § 2.

As used in this subchapter:

(1) “Business” means a person or entity that: Performs a service or engages in a trade for profit and is required by the Internal Revenue Service to file a: Schedule C, Form 1040, Profit or Loss From Business, or its equivalent or successor form;

(2) Schedule E, Form 1040, Supplemental Income and Loss, or its equivalent or successor form; or

(3) Schedule F, Form 1040, Profit or Loss From Farming, or its equivalent or successor form, for that activity; or

(4) Is organized as a business under this chapter, including an entity that is required to file an annual report with the Secretary of State, whether or not the entity performs a service or engages in a trade or business for profit;

(5) “State business license” means any license issued to a business in this state; and

(6) “Wages” means any remuneration paid for personal services, including commissions and bonuses, and payable in any medium other than cash.

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.