MINOR MEMOS: Arkansas is considering replacing its corporate income tax with a gross receipts tax for companies selling electricity or natural gas.  The state taxes corporations currently at a 6.5% rate on net income.  The gross receipts tax would be at a 4% rate on “proceeds from all sales” of electricity or natural gas.  The state legislature is scheduled to adjourn on April 17, but the session could be extended . . . . The IRS issued regulations in March that would deny a parent company the ability to claim a loss on the sale of shares in a subsidiary.  The regulations – called the “dual consolidated loss rules” – would deny losses where a parent company sells a subsidiary that was part of the same consolidated group for tax purposes in circumstances where there is the potential for the same loss to be claimed twice.