Arkansas PET (Pass-Through Entity Tax) AR1100PET - 1120S - Tax Year 2022

  • Article Type:
  • QA
  • Last Modified:
  • 03/24/2023

Question

What are some common questions and answers regarding Arkansas Pass Through Entity Tax?

Environment

  • CCH® ProSystem fx® Tax
  • CCH Axcess™ Tax
  • S Corporation – 1120S
  • Arkansas - AR

Answer

QuestionAnswer
-Form Name
AR1100PET
-State Links
Election for PTE
-Is an Election Required?
  • Yes
-Made when?
  • Filing AR362 makes the election, or by filing the actual AR1100PET return on, or before, the due date or extended due date of the return.
-Good for?
  • Until revoked (Using AR362)
-How do we make this election?
  • Filing AR362 makes the election or by filing the actual AR1100PET return
-Separate Form needed?
  • AR362 may be used, or the AR1100PET simply filed makes the election
-Option  to Opt-Out?
  • Yes, AR362 used to revoke election
Generation of State PTE Return
-How do we generate the form above?
  • Common State/City > State PTE Generation > State PTE Return Generation > Arkansas - Generate State PTE return
    • (Interview Form PTE-ST1, Box 42)
  • Or Arkansas >  Pass-Through Entity Tax worksheet > Section 1 - Pass-Through Entity Tax > Line 1 Pass-Through Entity Tax Prepare.
    • (Interview Arkansas > AR10A, Box 30 - Code Y)
-Is this a separate filing from the main form, part of the main form, or filed on it's own?
  • The AR1100PET completely replaces the partnership (AR1050) and composite (AR1000CR) filings.
Estimates
-Are there estimates for this form?
  • AR1100ESPET
-How do we generate them?
  • Will automatically produce if there is tax > $1,000 due, unless suppressed.
  • Payments/Penalties/Estimates > Estimates and Application of Overpayment > State Estimates and Application of Overpayment > State Code - AR  
    • (Interview Common State > StPay/Est > STEST1).
    -Can you apply an overpayment from the current year form?
    • Yes 
    • Payments/Penalties/Estimates > Estimates and Application of Overpayment > State Estimates and Application of Overpayment > State Code - AR
      • (Interview Common State > StPay/Est > STEST1).
    Interest/Penalties
    -Do interest/penalties apply?
    • Yes
    • Payments/Penalties/Estimates > Penalties > State / City Late Interest and Penalties > State Code - AR
      • (Interview Common State > Penalties > PEN-1).
    -Is there an underpayment penalty?
    • Yes.
    • Payments/Penalties/Estimates > Penalties > State / City Underpayment Penalties > State Code - AR
      • (Interview Common State > Penalties > UP-1).
    Additional PTE Information
    • Common State > State PTE Generation worksheet >Grid 23  (Interview PTE-ST1, boxes 300-364)
    -Does this section apply to this state?Not at this time.
    Additional Input Available
    - Does new input options under State and City Tax Refund flow to the state?No.
    - Does new input options under Taxes and Licenses flow to the state?Yes.
    - Does new input options under Rent/Royalty flow to the state?No.
    - Does the new input options under Farm flow to the state?No.

    Additional Information

    N/A

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