Arkansas § 23-79-702 Tax credit for medically necessary medical foods and low protein modified food products

Arkansas Statutes

§ 23-79-702 — Tax credit for medically necessary medical foods and low protein modified food products

Arkansas § 23-79-702

Title23

This text of Arkansas § 23-79-702 (Tax credit for medically necessary medical foods and low protein modified food products) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-79-702 (2026).

Text

(a)A credit of up to two thousand four hundred dollars ($2,400) per year per child shall be allowed to individuals or to families with a dependent child or children with phenylketonuria, galactosemia, organic acidemias, and disorders of amino acid metabolism against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., for expenses for the purchase of medically necessary medical foods and low protein modified food products.

(b)The credit allowed in this section shall be effective for taxable years beginning January 1, 1999.

(c)To the extent that the credit fully available under this subchapter is not fully utilized in this first year, it may be carried forward for an additional two (2) years. Any credit remaining thereafter shall expire.

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(a) A credit of up to two thousand four hundred dollars ($2,400) per year per child shall be allowed to individuals or to families with a dependent child or children with phenylketonuria, galactosemia, organic acidemias, and disorders of amino acid metabolism against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., for expenses for the purchase of medically necessary medical foods and low protein modified food products. (b) The credit allowed in this section shall be effective for taxable years beginning January 1, 1999. (c) To the extent that the credit fully available under this subchapter is not fully utilized in this first year, it may be carried forward for an additional two (2) years. Any credit remaining thereafter shall expire.