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Arkansas Supreme Court Holds Gain from Sale of Entire Business Is Nonbusiness Income

The Arkansas Supreme Court affirmed the circuit court’s grant of summary judgment to the taxpayer, holding that gains from the sale of intangible assets constituted nonbusiness income allocable to Oklahoma …

The Arkansas Supreme Court affirmed the circuit court’s grant of summary judgment to the taxpayer, holding that gains from the sale of intangible assets constituted nonbusiness income allocable to Oklahoma rather than Arkansas. The taxpayer, an Oklah… [456 chars]

Source: Bloomberg Tax News | Published: 2026-04-20T14:36:03Z

Credit: Bloomberg Tax News

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