- (a) In accordance with the terms of Arkansas Code § 26-5-101(IV)(18) and Arkansas Code § 26-51-718, the Secretary of the Department of Finance and Administration determines that the allocation and apportionment provisions of the Multistate Tax Compact, Arkansas Code § 26-5-101, and the Uniform Division of Income for Tax Purposes Act, Arkansas Code § 26-51-701 et seq., do not fairly represent the extent of business activity in the State of Arkansas for taxpayers described in 26 CAR § 131-103.
- (b) A corporation which owns, licenses, or manages intangible property has nexus with Arkansas for purposes of filing a corporate income tax return when the corporation seeks the benefit of economic contact with Arkansas by directing its economic activity at this state through the licensing of these intangibles in an intragroup intangible licensing transaction.