8.26 Ark. Code R. 51-404(a)(1)
Current through Register Vol. 49, No. 9, September, 2024
The proceeds from the sale by a corporation of its capital stock, either through original issue or secondary transactions, whether in excess of or less than par value or purchase cost, constitute a capital transaction of the company and will not produce taxable income nor a deductible loss for the corporation.
8.26 Ark. Code R. 51-404(a)(1)