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Arkansas Code Title 26. Taxation § 26-51-445. Credit--Adoption expenses

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) Title 26 U.S.C. § 23, as in effect on January 2, 2013, and 26 U.S.C. § 36C, as in effect on January 2, 2013, are adopted for purposes of determining the allowable credit for adoption-related fees, costs, and expenses paid or incurred by a taxpayer.

(b)(1) The amount of credit allowed against Arkansas income tax due is twenty percent (20%) of the federal credit as calculated under 26 U.S.C. §§ 23 and 36C.

(2) The amount of the credit that may be used by a taxpayer for a taxable year may not exceed the amount of income tax otherwise due.

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Cite this article: FindLaw.com - Arkansas Code Title 26. Taxation § 26-51-445. Credit--Adoption expenses - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-26-taxation/ar-code-sect-26-51-445/

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