Arkansas § 26-51-436 Deductions - Limitations

Arkansas Statutes

§ 26-51-436 — Deductions - Limitations

Arkansas § 26-51-436

Title26

This text of Arkansas § 26-51-436 (Deductions - Limitations) 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. § 26-51-436 (2026).

Text

Notwithstanding any other provision of the Income Tax Act of 1929, § 26-51-101 et seq., with regard to deductions allowed in computing net income:

(1)Title 26 U.S.C. § 465 , as in effect on January 1, 1987, is adopted to limit deductions claimed under the Income Tax Act of 1929, § 26-51-101 et seq., to the amount the taxpayer has at risk, as that term is used in the federal income tax law;

(2)Title 26 U.S.C. § 469 , as in effect on January 1, 1997, regarding the limitations on deductibility of passive activity losses and credits, is adopted for the purpose of computing Arkansas income tax liability;

(3)Title 26 U.S.C. § 280F(a)-

(d), as in effect on January 1, 2019, regarding investment tax credit and depreciation for luxury automobiles and other property, is adopted for purposes of com

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Notwithstanding any other provision of the Income Tax Act of 1929, § 26-51-101 et seq., with regard to deductions allowed in computing net income: (1) Title 26 U.S.C. § 465 , as in effect on January 1, 1987, is adopted to limit deductions claimed under the Income Tax Act of 1929, § 26-51-101 et seq., to the amount the taxpayer has at risk, as that term is used in the federal income tax law; (2) Title 26 U.S.C. § 469 , as in effect on January 1, 1997, regarding the limitations on deductibility of passive activity losses and credits, is adopted for the purpose of computing Arkansas income tax liability; (3) Title 26 U.S.C. § 280F(a)-(d) , as in effect on January 1, 2019, regarding investment tax credit and depreciation for luxury automobiles and other property, is adopted for purposes of computing Arkansas income tax liability; (4) Title 26 U.S.C. § 68 , as in effect on January 1, 2011, is adopted to limit itemized deductions; (5) Title 26 U.S.C. § 220 , as in effect on January 1, 2011, regarding the deductibility from income of contributions made to a medical savings account by the taxpayer or the taxpayer's employer, is adopted for the purpose of computing Arkansas income tax liability; (6) Title 26 U.S.C. § 264 , as in effect on January 1, 1999, regarding premium and interest deductions on life insurance of officers and employees, is adopted for the purpose of computing Arkansas income tax liability; and (7) Title 26 U.S.C. § 470 , as in effect on January 1, 2009, regarding leasing transactions between taxpayers, is adopted for the purpose of computing Arkansas income tax liability.

Legislative History

Amended by Act 2019, No. 870,§ 10, eff. for tax years beginning on or after 1/1/2019. Acts 1929, No. 118, Art. 3, § 13; 1987, No. 382, § 21; 1989, No. 826, §§ 5, 32; 1991, No. 95, § 4; 1991, No. 685, § 3; 1995, No. 1160, § 1; 1997, No. 951, §§ 14, 21; 1997, No. 1000, § 16; 1999, No. 1126, § 35; 2001, No. 634, § 1; 2003, No. 336, § 1; 2003, No. 663, § 10; 2005, No. 94, § 5; 2005, No. 675, § 11; 2007, No. 218, § 28; 2009, No. 372, §§ 20, 21; 2011, No. 787, §§ 26-28.