§ 26-59-101. Title
This chapter may be cited as the “Estate Tax Law of Arkansas”.
§ 26-59-102. Definitions
As used in this chapter: (1) “Decedent” includes the testator, intestate, grantor, bargainor, vendor, or donor; (2) “Executor” means the executor, administrator, curator, fiduciary, or custodian of property of a decedent, or if there is no executor, administrator, curator, fiduciary, or custodian appointed, qualified, and acting, then any person who is in the actual or […]
§ 26-59-103. Chapter to remain in effect while United States Government imposes estate tax
This chapter shall remain in force and effect so long as the United States Government retains in full force and effect, as a part of the revenue laws of the United States, the present federal estate tax, and this chapter shall cease to be operative when the federal credit for state death taxes set forth […]
§ 26-59-104. Federal rules of interpretation applicable
When not otherwise provided for in this chapter, the rules of interpretation and construction applicable to the estate tax laws of the United States shall apply to and be followed in the interpretation of this chapter.
§ 26-59-105. Administration and enforcement of chapter
Except as otherwise provided in this chapter, the Secretary of the Department of Finance and Administration shall have jurisdiction and be charged with the administration and enforcement of the provisions of this chapter.
§ 26-59-109. Estate tax returns generally
In the case of decedents dying in: Subdivisions (a)(2) and (3) of this section shall be applied by substituting for “$3,500,000” the following amount: 2002 and 2003 $1,000,000 2004 1,500,000 2005 1,500,000 2006, 2007, and 2008 2,000,000 2009 and thereafter 3,500,000 Click to view table.
§ 26-59-110. Estate tax returns — Contents
The executor at such times and in such manner as may be required by rules made pursuant to law shall also file with the Secretary of the Department of Finance and Administration a return under oath, setting forth: (1) A description and the value of the gross estate of the decedent at the time of […]
§ 26-59-112. Secretary to make return when no return filed
If any executor, administrator, fiduciary, trustee, person, corporation, company, or association fails to make and file a return or list at the time prescribed by law or by rule made under authority of law, or makes, willfully or otherwise, a false or fraudulent return or list, the Secretary of the Department of Finance and Administration […]
§ 26-59-117. Payment of tax — Executor’s liability
If any executor makes distribution either in whole or in part of any of the property of an estate to the heirs, next of kin, distributees, legatees, or devisees without having paid or secured the tax due the State of Arkansas under this chapter or obtained the release of the property from the lien of […]
§ 26-59-118. Payment of tax — Executor’s right to sell real estate
Every executor shall have the same right and power to take possession of or sell, convey, and dispose of real estate as assets of the estate for payment of the tax imposed by this chapter as the executor may have for the payment of the debts of the decedent.
§ 26-59-119. Executor — Notice of appointment
The executor within two (2) months after the decedent’s death or within a like period after qualifying as executor, shall give written notice of his or her qualification as executor to the Secretary of the Department of Finance and Administration.