1.26 Ark. Code R. 51-710.1
Property shall be included in the property factor if it is actually used or is available for use or capable of being used during the tax year in the regular course of the taxpayer's trade or business. Property held as reserves (including reserves of materials) and standby facilities shall be included in the factor. Property or equipment under construction during the tax year shall be excluded from the factor until such property is actually used in the regular course of the taxpayer's trade or business. "Goods in process" which can be or are included in the taxpayer's inventory shall be included in the property factor. If the property is partially used in the regular course of the taxpayer's trade or business while under construction, the value of the property to the extent used shall be included in the property factor. Property used in the regular course of the taxpayer's trade or business shall remain in the property factor until its permanent withdrawal is established by an identifiable event, such as its conversion to the production of nonbusiness income, its sale, or the lapse of an extended period of time, normally five (5) years, during which time the property sits idle and is held for sale.
1.26 Ark. Code R. 51-710.1