Arkansas Code
Subchapter 2 - Imposition of Tax
§ 26-51-204. Railroads and public utilities

Every railroad or other public utility, whether organized under the laws of this state or any other state or the federal government, shall be subject to the provisions of the Income Tax Act of 1929, § 26-51-101 et seq., and shall pay the state income tax levied by this subchapter upon that proportion of its entire net income applicable to the State of Arkansas.