Browse Arkansas Code titles and sections
26-51-419. Deductions — Charitable contributions.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-419. Deductions — Charitable contributions.
(a)(1) Title 26 U.S.C. § 170, as in effect on January 1, 2019, regarding deductions for charitable contributions, is adopted for the purpose of computing Arkansas income tax liability.
(2) However, with respect to contributions of qualified appreciated stock within the meaning of 26 U.S.C. § 170(e)(5) made after May 31, 1997, the provisions of this section shall apply after taking into account the extension of the provisions of 26 U.S.C. § 170(e)(5) by § 602 of the Taxpayer Relief Act of 1997, Pub. L. No. 105-34, and § 1004(a) of the Tax and Trade Relief Extension Act of 1998, Pub. L. No. 105-277.
(b) The provisions of subsection (a) of this section shall apply to a corporation that files an Arkansas consolidated corporation income tax return pursuant to § 26-51-805, provided that each member of the affiliated group shall follow the provisions of § 26-51-805(f) and calculate its contribution limits separately.
(c) For purposes of subsection (a) of this section, a cash contribution made in January 2005 for the relief of victims in areas affected by the December 26, 2004 Indian Ocean tsunami, for which a charitable contribution deduction is allowed under 26 U.S.C. § 170, may be treated as if the contribution were made on December 31, 2004, and not in January 2005.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-419
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:26-51-419
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9dbe69c15b18977555761d4a15250a28deea3e7b3a6505bfb8ad5515aaf1e49e
Source location: content.xml paragraph 12601
Stored source content
26-51-419. Deductions — Charitable contributions.
(a)(1) Title 26 U.S.C. § 170, as in effect on January 1, 2019, regarding deductions for charitable contributions, is adopted for the purpose of computing Arkansas income tax liability.
(2) However, with respect to contributions of qualified appreciated stock within the meaning of 26 U.S.C. § 170(e)(5) made after May 31, 1997, the provisions of this section shall apply after taking into account the extension of the provisions of 26 U.S.C. § 170(e)(5) by § 602 of the Taxpayer Relief Act of 1997, Pub. L. No. 105-34, and § 1004(a) of the Tax and Trade Relief Extension Act of 1998, Pub. L. No. 105-277.
(b) The provisions of subsection (a) of this section shall apply to a corporation that files an Arkansas consolidated corporation income tax return pursuant to § 26-51-805, provided that each member of the affiliated group shall follow the provisions of § 26-51-805(f) and calculate its contribution limits separately.
(c) For purposes of subsection (a) of this section, a cash contribution made in January 2005 for the relief of victims in areas affected by the December 26, 2004 Indian Ocean tsunami, for which a charitable contribution deduction is allowed under 26 U.S.C. § 170, may be treated as if the contribution were made on December 31, 2004, and not in January 2005.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Allowance of deduction**
(1) **General rule** — There shall be allowed as a deduction any charitable contribution (as defined in subsection (c)) payment of which is made within the taxable year. A charitable contribution shall be allowable as a deduction only if verified under regulations prescribed by the Secretary.
(2) **Corporations on accrual basis** — In the case of a corporation reporting its taxable income on the accrual basis, if—
(A) the board of directors authorizes a charitable contribution during any taxable year, and
(B) payment of such contribution is made after the close of such taxable year and on or before the 15th day of the fourth month following the close of such taxable year,
then the taxpayer may elect to treat such contribution as paid during such taxable year. The election may be made only at the time of the filing of the return for such taxable year, and shall be signified in such manner as the Secretary shall by regulations prescribe.
(3) **Future interests in tangible personal property** — For purposes of this section, payment of a charitable contribution which consists of a future interest in tangible personal property shall be treated as made only when all intervening interests in, and rights to the actual possession or enjoyment of, the property have expired or are held by persons other than the taxpayer or those standing in a relationship to the taxpayer described in section 267(b) or 707(b). For purposes of the preceding sentence, a fixture which is intended to be severed from the real property shall be treated as tangible personal property.
**(b) Percentage limitations**
(1) **Individuals** — In the case of an individual, the deduction provided in subsection (a) shall be limited as provided in the succeeding subparagra
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 170
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 170. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 841
TITLE 26—INTERNAL REVENUE CODE
§ 170
section (a), be allowed with respect to the por-
tion of the adjusted basis which is not the amor-
tizable basis.
[(h) Repealed. Pub. L. 92–178, title I, § 104(f)(2),
Dec. 10, 1971, 85 Stat. 502]
(i) Life tenant and remainderman
In the case of property held by one person for
life with remainder to another person, the de-
duction under this section shall be computed as
if the life tenant were the absolute owner of the
property and shall be allowable to the life ten-
ant.
(j) Cross reference
For special rule with respect to certain gain de-
rived from the disposition of property the adjusted
basis of which is determined with regard to this sec-
tion, see section 1245.
(Added Pub. L. 91–172, title VII, § 704(a), Dec. 30,
1969, 83 Stat. 667; amended Pub. L. 92–178, title I,
§ 104(f)(2), Dec. 10, 1971, 85 Stat. 502; Pub. L.
93–625, § 3(a), Jan. 3, 1975, 88 Stat. 2109; Pub. L.
94–455, title XIX, § 1906(b)(13)(A), title XXI,
§ 2112(b), (c), Oct. 4, 1976, 90 Stat. 1834, 1906; Pub.
L. 109–58, title XIII, § 1309(a)–(d), Aug. 8, 2005, 119
Stat. 1007; Pub. L. 109–135, title IV, § 402(e), Dec.
21, 2005, 119 Stat. 2611; Pub. L. 115–141, div. U,
title IV, § 401(a)(51), Mar. 23, 2018, 132 Stat. 1186.)
Editorial Notes
REFERENCES IN TEXT
The Federal Water Pollution Control Act, as amended
(33 U.S.C. 466 et seq.), referred to in subsec. (d)(1)(B), is
act June 30, 1948, ch. 758, as amended generally by Pub.
L. 92–500, § 2, Oct. 18, 1972, 86 Stat. 816, which is classi-
fied generally to chapter 26 (§ 1251 et seq.) of Title 33,
Navigation and Navigable Waters. The subject matter
of section 13(a) of the act, referred to in subsec. (d)(2),
is covered by section 1362(1) of Title 33. For complete
classification of this Ac
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 170
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 170. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-805. Consolidated corporate returns.
(a)(1) All corporations which are eligible members of an affiliated group as that term is defined in 26 U.S.C. § 1504(a) and (b) as of January 1, 1989, which affiliated group files a federal consolidated corporate income tax return pursuant to 26 U.S.C. §§ 1501 — 1505 as of January 1, 1989, may elect to file a consolidated Arkansas corporate income tax return.
(2) However, only corporations in the affiliated group that have gross income from sources within the State of Arkansas that is subject to taxation under the provisions of the Income Tax Act of 1929, § 26-51-101 et seq., shall be eligible to file consolidated corporate income tax returns in Arkansas.
(b)(1) All corporations in the affiliated group which are eligible to file an Arkansas consolidated income tax return must consent to, and join in, the filing of the consolidated return prior to the last day for filing the return, as may be extended.
(2) The making of the consolidated income tax return shall be deemed as consent of each eligible corporation in the affiliated group.
(c) When filing an Arkansas consolidated corporate income tax return, a complete copy of the federal consolidated corporate income tax return filed with the Internal Revenue Service for that taxable year must be attached to the Arkansas return.
(d)(1) The election to file an Arkansas consolidated corporate income tax return for any income year shall require the filing of consolidated corporate income tax returns for all subsequent income years so long as the individual corporations remain members of the affiliated group unless the Secretary of the Department of Finance and Administration consents to the filing of separate returns by any members of the affiliated group.
(2) However, in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-805
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 26-51-805. This identifies an authority to review, not proof of applicability.