Arkansas § 26-51-316 Disaster relief payments and rebates

Arkansas Statutes

§ 26-51-316 — Disaster relief payments and rebates

Arkansas § 26-51-316

Title26

This text of Arkansas § 26-51-316 (Disaster relief payments and rebates) 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. § 26-51-316 (2026).

Text

(a)There is allowed an exemption from the income tax imposed under this chapter for:

(1)Payments made to a taxpayer by the United States Department of Agriculture under the Market Facilitation Program authorized by 15 U.S.C. § 714c , as it existed on January 1, 2020; and (2) Recovery rebates provided by the United States Department of the Treasury under Section 2201 of the Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136.

(b)Expenses for losses related to the receipt of a payment from the Market Facilitation Program to a taxpayer are not deductible or otherwise permitted to offset any other income from the tax year in which the loss or expenses are incurred.

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(a) There is allowed an exemption from the income tax imposed under this chapter for: (1) Payments made to a taxpayer by the United States Department of Agriculture under the Market Facilitation Program authorized by 15 U.S.C. § 714c , as it existed on January 1, 2020; and (2) Recovery rebates provided by the United States Department of the Treasury under Section 2201 of the Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136. (b) Expenses for losses related to the receipt of a payment from the Market Facilitation Program to a taxpayer are not deductible or otherwise permitted to offset any other income from the tax year in which the loss or expenses are incurred.