Ark. Code Ann. § 26-51-413: Corporate liquidations

(a) Title 26 U.S.C. §§ 332 , 334 , 336 , 337 , and 338 , as in effect on January 1, 2007, regarding the liquidations of corporations, are adopted for the purpose of computing Arkansas income tax liability.

(b) For the purposes of the application of this section, the transition rule of § 633(c) and (d) of the Tax Reform Act of 1986, Pub. L. No. 99-514, as amended by subsections (g)(2), (g)(3)(A)-(C), (g)(4), (g)(5)(A) and (B), and (g)(7) of § 1006 of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. No. 100-647, shall also apply under the state income tax law.