Arkansas § 26-51-2304 Amount deducted and withheld - Credit

Arkansas Statutes

§ 26-51-2304 — Amount deducted and withheld - Credit

Arkansas § 26-51-2304

Title26

This text of Arkansas § 26-51-2304 (Amount deducted and withheld - Credit) 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. § 26-51-2304 (2026).

Text

(a)A claim center making a payment of lottery winnings on a single lottery ticket of more than five thousand dollars ($5,000) shall deduct and withhold an amount equal to seven percent (7%) of each payment of the lottery winnings.

(b)The amount deducted and withheld under this section from any lottery winnings paid to a person during the income year shall be credited against the income tax liability of that person under the Income Tax Act of 1929, § 26-51-101 et seq.

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(a) A claim center making a payment of lottery winnings on a single lottery ticket of more than five thousand dollars ($5,000) shall deduct and withhold an amount equal to seven percent (7%) of each payment of the lottery winnings. (b) The amount deducted and withheld under this section from any lottery winnings paid to a person during the income year shall be credited against the income tax liability of that person under the Income Tax Act of 1929, § 26-51-101 et seq.