Arkansas § 26-51-450 Deductions - Small business guaranty fees - Definition

Arkansas Statutes

§ 26-51-450 — Deductions - Small business guaranty fees - Definition

Arkansas § 26-51-450

Title26

This text of Arkansas § 26-51-450 (Deductions - Small business guaranty fees - Definition) 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. § 26-51-450 (2026).

Text

(a)In computing net income, there shall be allowed as a deduction the amount paid during a taxable year to the United States Small Business Administration as a guaranty fee associated with the acquisition of United States Small Business Administration financing.

(b)The deduction shall be taken only by the small business which is the primary obligor in the financing transaction and which paid the fee.

(c)"Small business" means any corporation, partnership, sole proprietorship, limited liability corporation, or other business entity qualifying as "small" under the standards contained in 13 C.F.R. Part 121, as in effect on January 1, 2001.

(d)The Revenue Division of the Department of Finance and Administration may promulgate rules as necessary to administer this section.

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(a) In computing net income, there shall be allowed as a deduction the amount paid during a taxable year to the United States Small Business Administration as a guaranty fee associated with the acquisition of United States Small Business Administration financing. (b) The deduction shall be taken only by the small business which is the primary obligor in the financing transaction and which paid the fee. (c) "Small business" means any corporation, partnership, sole proprietorship, limited liability corporation, or other business entity qualifying as "small" under the standards contained in 13 C.F.R. Part 121, as in effect on January 1, 2001. (d) The Revenue Division of the Department of Finance and Administration may promulgate rules as necessary to administer this section.