Form AR1002/AR1002NR Inst AR1002 and AR1002NR Instructions

Little Rock Arkansas 72203 1000 Little Rock Arkansas 72203 2144 Little Rock Arkansas 72203 3628 Little Rock Arkansas 72203 8026 P O Box 1000 P O Box 2144 P O Box 3628 P O Box 8026 (FORM AR2210) 1 Any income of such estate or trust is currently distributable; 2 The tax is payable by the beneficiaries or by the grantor; 2011 Fiduciary Tax Return 3 The net income of such estate or trust is $3 000 or over and/or 4 Any beneficiary of such estate or trust is a nonresident and Instructions Attach check or money order with completed Form AR1002V and mail with return Write your Federal Identification Number on the check or money order and make your check payable in U S Dollars to the Department of Finance and Administration Mail on or before the return due date If the payment is for an amended return mark the box yes on Form AR1002V for Is Payment for an Amended Return ATTN: Extension Beneficiaries share of income must be listed in this section Include all infor mation requested If additional space is needed attach a separate schedule Any income properly paid credited and/or distributable to a beneficiary is taxable to the beneficiary Both options will be processed by Official Payments Corporation a private credit card payment services provider A convenience fee will be charged to your credit card for the use of this service The State of Arkansas does not receive this fee You will be informed of the exact amount of the fee before you complete your transaction After you complete your transaction you will be given a confirmation number to keep with your records DEDUCTIONS Fiduciary Instr (R 10/6/11) Fiduciary Instr (R 7/13/2011) Fill in the exact name of the estate or trust the address and the date the trust was created Check the appropriate box for Type of Entity Indicate whether you are filing an Original Return an Amended Return or a Final Return FOR ASSISTANCE CALL: (501) 682 1100 or (800) 882 9275 If you file a fiscal year return fill in the fiscal year at the top of the form The moment of death determines the end of the decedent s tax year and the beginning of the estate s tax year If you request an extension of time to file your federal fiduciary tax return (with federal Form 7004) you can receive the same 5 month extension on your state return If you do not file a federal extension you can request a 180 day Arkansas extension using Form AR1055 before the filing date of April 17th (for calendar year filers) Send Form AR1055 to: INCOME Individual Income Tax Section INSTRUCTIONS INTEREST AND PENALTIES Interest will be charged on taxes not paid by their due date even if an exten sion of time to file is granted The law also provides a late filing penalty and a failure to pay penalty Line 1 Enter total taxable interest income received or credited to the account of the estate or trust Attach schedule showing all interest income and identify any nontaxable interest Line 10 Enter any interest paid that is not deducted elsewhere DO NOT include interest on capital invested in or advanced to the business by the estate or trust Line 11 Enter amount paid or permanently set aside during year for chari table organizations Line 12 Enter deductible attorney accountant return preparer or fiduciary fees paid or incurred by the fiduciary for administering the estate or trust during year Line 13 Enter any other authorized deductions allowed by Arkansas law Include on this line: bad debts casualty losses and involuntary conversion of property not used in a trade or business Attach schedule listing and explaining all deductions Line 14 Add Lines 9 through 13 and enter total Line 15 Subtract Line 14 from Line 8 and enter difference Line 16 Enter total amount of income or loss to be distributed to all ben eficiaries during year Line 17 Subtract Line 16 from Line 15 and enter difference Line 18 Do not adjust this amount Line 19 Subtract Line 18 from Line 17 and enter difference Line 2 Enter total of all taxable dividends Attach schedule Line 20 Compute tax on the amount on Line 19B if you are using Form AR1002 Compute tax on the amount on Line 19A if you are using Form AR1002NR Use the enclosed Regular Tax Table and enter amount here Line 21 Do not adjust this amount Line 22 Enter total amount of state income tax liability to other state(s) This credit is allowable only to resident estate(s) or trust(s) when the income was reported and taxable on the other state(s) tax return(s) and on the Ar kansas Fiduciary Return Attach a copy of the tax return(s) filed with the other state(s) Line 23 Enter total allowable credits from AR1000TC Attach AR1000TC and supporting documents Line 24 Add Lines 21 through 23 and enter total Line 25 Subtract Line 24 from Line 20 and enter difference Line 25A Enter amount from Line 17 Column B Line 25B Enter amount from Line 17 Column A Line 25C Divide amount on Line 25A by amount on Line 25B to arrive at the Arkansas percentage Round to six decimal places DO NOT ROUND TO ZERO Line 25D Multiply amount on Line 25 by percentage on Line 25C and enter total Line 26 Enter Arkansas tax withheld Attach Form(s) AR1099PT and/or 1099R Line 27 Enter estimated tax paid Line 28 Enter amount paid with extension Line 29 Enter payments made with or after the filing of original return Line 3 Enter net profit (or loss) from a trade or business Attach federal schedule Line 30 Add Lines 26 27 28 and 29 and enter total Line 31 Enter total of all overpayments/refunds received from previously filed returns Line 32 Subtract Line 31 from Line 30 and enter total Line 33 If Line 32 is larger than Line 25 of AR1002 or Line 25D of AR1000NR enter difference Line 34 Enter amount of your refund you want carried forward The over payment from your 2011 AR1002 or AR1002NR will be applied to your 2012 estimated account Line 35 Subtract Line 34 from Line 33 This is the amount to be refunded to you Line 36 If Line 25 of AR1002 or Line 25D of AR1002NR is larger than Line 32 enter difference This is the amount of tax due Line 37A and 37B Enter the exception number from Part 1 of Form AR2210 or the computed penalty from Line 18 of AR2210 in the appropriate box If you completed Form AR2210A enter 6 in box 37A Enter amount from Line 46 of AR2210A in box 37B Attach Form AR2210 or AR2210A Line 37C Add Lines 36 and 37B Enter total on this line Line 4 If you have gains or losses from the sale of real estate stocks bonds or gains or losses from capital assets from partnerships S corporations or fiduciaries complete worksheet on back of Form AR1002/AR1002NR and enter total here Line 5 Enter net rent and royalty income the estate s or trust s share of profits from a partnership and income from another estate or trust (whether received or not) Attach schedule Line 6 Enter net profit (or loss) from farming Attach federal sched ule Line 7 Enter taxable income not reported elsewhere Attach statement identifying the source Line 8 Add Lines 1 through 7 and enter total Line 9 Enter any taxes paid during the tax year that are not deducted else where DO NOT include assessments for local benefit of a kind tending to increase the value of the property assessed DO NOT include federal or Arkan sas taxes nor taxes imposed upon the estate or trust on its corporation which are paid by the estate or trust Attach schedule detailing all taxes Little Rock AR 72203 3628 Mail Amended Returns to: State Income Tax Mail No Tax Due Returns to: State Income Tax Mail Refund Returns to: State Income Tax Mail Tax Due Returns to: State Income Tax Nonresident beneficiaries who have distributions from an Arkansas es tate or trust must file an Arkansas Individual Income Tax Return (AR1000NR) that reports total income received from Arkansas sources regardless of the amount of distribution NOTE: Through Act 372 of 2009 Arkansas adopted IRC Section 179 as in effect on January 1 2009 thus allowing greater dollar limits and phase out thresholds The maximum deduction allowed for property placed in service during the tax year is now $25 000 The deduction is decreased dollar for dollar for property over $200 000 and no deduction is allowed for property over $225 000 Note: To receive credit for your federal or state extension when you file your Arkansas return you must check the box on the face of the return indicating you filed an extension P O Box 3628 PAYMENT INFORMATION Resident beneficiaries must include distributions from any estate or trust in their total Arkansas income to determine if an AR1000F should be filed SCHEDULE B: INCOME DISTRIBUTION STATE OF ARKANSAS TAX AND PAYMENTS TAX APPORTIONMENT (AR1002NR ONLY) Taxpayers may pay their tax due by credit card Credit card payments may be made by calling 1 800 2PAY TAXSM (1 800 272 9829) or by visiting www officialpayments com and clicking on the Payment Center link The due date is April 17th for calendar year filers Fiscal year filers must file on or before the fifteenth (15th) day of the fourth (4th) month following the close of the fiscal year The Federal Employer Identification Number must be entered in the space provided on the top right side of the form A separate Federal Employer Identification Number is required for each estate or trust The fiduciary return is used to report the income of an estate or trust Every fiduciary or at least one of the joint fiduciaries must file a return for the estate or trust for which he/she acts provided any of the following apply: The instructions for Lines 25A through 25D are for use with Form AR1002NR only If using Form AR1002 skip this section and go to the instructions for Line 26 This information applies to both the AR1002 and the AR1002NR tax forms UNDERPAYMENT OF ESTIMATED TAX WHEN TO FILE WHERE TO MAIL WHO MUST FILE You may have to pay a penalty if the tax you owe is more than $1 000 and you did not file a Declaration of Estimated Tax required by Arkansas tax code or you did not pay adequate installments on your estimated tax See instructions for Line 37A and B for more information