1.26 Ark. Code R. 51-102(17)(A)
Tax year means the calendar year or fiscal year upon which taxable income is computed. A calendar year means a period of 12 months ending on December 31. A fiscal year means a period of 12 months ending on the last day of any month other than December. A tax return for the period 01/01/93 through 12/31/93 is a calendar year return and is referred to as the 1993 tax year. Any correspondence or assessments from the Department concerning this tax year will be designated as the tax year ending 12/93 or as tax year 1993.
A tax return for the period 02/01/92 through 01/31/93 is a fiscal year return and is also considered a 1993 tax year return. Any correspondence or assessments from the Department will be designated as the tax year ending 01/93, or as tax year 1993.
1.26 Ark. Code R. 51-102(17)(A)