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Arkansas Code Title 26. Taxation § 26-51-459. Teacher's classroom investment deduction

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

(a) As used in this section:

(1) “Qualified classroom investment expense” means the amount expended by a teacher during the tax year for materials used in the classroom, including without limitation the following:

(A) Books;

(B) School supplies;

(C) Computer equipment and software;

(D) Athletic equipment;

(E) Food for the teacher's students; and

(F) Clothing for the teacher's students; and

(2) “Teacher” means a teacher, instructor, counselor, principal, or aide for students in any grade from prekindergarten through grade twelve (preK-12) who is employed for at least nine hundred (900) hours in a tax year at a school certified by the state to provide public preschool, elementary, or secondary education.

(b) In computing net income for the purposes of this chapter, there is allowed as a deduction in addition to all other deductions allowed by law for the qualified classroom investment expenses incurred by a taxpayer.

(c) The deduction allowed under subsection (b) of this section shall not exceed five hundred dollars ($500) per taxpayer or one thousand dollars ($1,000) for taxpayers who are married filing jointly if each taxpayer is a teacher.

(d) The Secretary of the Department of Finance and Administration shall promulgate rules to implement this section, including without limitation a form for a taxpayer to use in claiming the deduction provided for under this section.

(e) A taxpayer claiming a deduction under this section shall:

(1) Maintain receipts for his or her qualified classroom investment expenses; and

(2) Itemize the qualified classroom investment expenses on the form provided by the Department of Finance and Administration.

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Cite this article: FindLaw.com - Arkansas Code Title 26. Taxation § 26-51-459. Teacher's classroom investment deduction - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-26-taxation/ar-code-sect-26-51-459/

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