Deductions — Expenses — Arkansas Code § 26-51-423

Official textcodeofarrules.arkansas.gov

# (a)

Travel and entertainment – Arkansas Code § 26-51-423(b).

# (b)

For tax years beginning before January 1, 1995, I.R.C. § 274 as in effect January 1, 1989, shall apply.

# (c)

For tax years beginning on or after January 1, 1995, I.R.C. § 274 as in effect January 1, 1995, shall apply.

# (d)

Eighty percent (80%) of qualified expenses will be allowed in tax years beginning before January 1, 1995, and fifty percent (50%) of qualified expenses will be allowed in tax years beginning on or after January 1, 1995.

# (e)

For tax years beginning on or after January 1, 1997, I.R.C. § 274 as in effect on January 1, 1997, shall apply.

# (f)

The percentage will gradually rise beginning in 1998 as set forth below:
For taxable years beginning in The applicable calendar year percentage is -
1998 or 1999 55%
2000 or 2001 60%
2002 or 2003 65%
2004 or 2005 70%
2006 or 2007 75%
2008 or thereafter 80%

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