Browse Arkansas Code titles and sections
23-79-702. Tax credit for medically necessary medical foods and low protein modified food products.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-79-702. Tax credit for medically necessary medical foods and low protein modified food products.
(a) A credit of up to two thousand four hundred dollars ($2,400) per year per child shall be allowed to individuals or to families with a dependent child or children with phenylketonuria, galactosemia, organic acidemias, and disorders of amino acid metabolism against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., for expenses for the purchase of medically necessary medical foods and low protein modified food products.
(b) The credit allowed in this section shall be effective for taxable years beginning January 1, 1999.
(c) To the extent that the credit fully available under this subchapter is not fully utilized in this first year, it may be carried forward for an additional two (2) years. Any credit remaining thereafter shall expire.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-79-702
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-79-702
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cbd7df8f91919ed15e3aaf85dc9c8cdb8c6b3ef90bc6206595a011d4f978b2ec
Source location: content.xml paragraph 47482
Stored source content
23-79-702. Tax credit for medically necessary medical foods and low protein modified food products.
(a) A credit of up to two thousand four hundred dollars ($2,400) per year per child shall be allowed to individuals or to families with a dependent child or children with phenylketonuria, galactosemia, organic acidemias, and disorders of amino acid metabolism against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., for expenses for the purchase of medically necessary medical foods and low protein modified food products.
(b) The credit allowed in this section shall be effective for taxable years beginning January 1, 1999.
(c) To the extent that the credit fully available under this subchapter is not fully utilized in this first year, it may be carried forward for an additional two (2) years. Any credit remaining thereafter shall expire.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-101. Title.
This act shall be known and may be cited as the “Income Tax Act of 1929”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-51-101. This identifies an authority to review, not proof of applicability.