Navigating the compliance landscape for pass-through entities can be intricate, especially when it comes to withholding and reporting income for members or partners. The Form AR941PT, specifically designed for this purpose, stands as a crucial document for entities operating within this domain. It mandates the submission of detailed income and withholding information for each member, ensuring that these entities adhere to Arkansas's taxation requirements. This form's unique aspect is its preference for digital submissions, with instructions favoring formats like Excel spreadsheets, although Access files are also acceptable. The structure of the form is meticulously detailed, encompassing fields for member identification (including Social Security or Federal Identification Numbers), names (with distinctions for individuals and entities), addresses, and crucial financial figures like taxable income distributed and tax withheld. These specifications not only streamline the submission process but also underline the critical nature of accurate record-keeping. Interestingly, the form also includes guidelines on the physical labeling of the submitted media, a nod to the balance between digital proficiency and traditional methods of organization. The AR941PT form, therefore, serves not just as a procedural requirement, but as a testament to the evolving nature of tax reporting and the importance of precision in fiscal matters.
| Question | Answer |
|---|---|
| Form Name | Form Ar941Pt |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | ar941pt instructions 2018, TAXABLE, ar 941pt, SSN |
Instructions for Form AR941PT
Pass Through Entity Withholding Report
Magnetic Media Specifications
Submit the records on CD or Diskette only. Excel spreadsheet is the preferred file type. Access file will be accepted.
1. RECORD LAYOUT
Field # |
Field Name |
Field Description |
Field Size |
1 |
FIN/SSN |
Member FIN or SSN |
9 |
2 |
FIRST NAME |
Member first name, if individual |
|
|
|
Member complete name, if other than individual |
25 |
3 |
MIDDLE INITIAL |
Member middle initial |
1 |
4 |
LAST NAME |
Member last name |
25 |
5 |
ADDRESS |
Entity/Member address |
35 |
6 |
CITY |
Entity/Member city |
35 |
7 |
STATE |
Entity/Member state |
2 |
8 |
ZIP |
Entity/Member zip |
9 |
9 |
TAXABLE INCOME |
Amount of Distribution |
11 |
|
DISTRIBUTED |
|
|
10 |
TAX WITHHELD |
Amount Withheld and Paid |
|
|
|
on behalf of Member |
11 |
2. FIELD DATA INSTRUCTIONS
Field 1 Enter the Social Security Number or Federal Identification Number for the Member. SSN/FIN is a required field for all N records, leave blank for other record codes. Zero fill from left for any number less than 9 digits.
Field 2 For member records coded S, P, L, T or O: Enter complete name of
For records coded N: Enter first name of Partner, Shareholder, Member, or Beneficiary. Supply legal name only, do not use DBA (doing business as) name.
Field 3 Enter middle initial of Member.
Field 4 Enter last name of Member.
Field 5 Enter location Member. Mailing address will be acceptable.
Field 6 Enter city Member.
Field 7 Enter state two digit mailing code Member.
Field 8 Enter mailing zip code for the Member. Zip code required for 5 digits, 9 digits accepted and preferred.
Field 9 Enter the amount of taxable income distributed to the member. Include commas and cents.
Field 10 Enter the amount of Arkansas income tax withheld on behalf of the member.
3. LABEL
Affix a label on the magnetic media and include the following on the label:
1.“AR941PT”
2.Pass Through Entity Name
3. Entities FIN
4.Number of records contained on the disk.