Browse Arkansas Code titles and sections
26-51-445. Adoption expenses.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-445. Adoption expenses.
(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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-445
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Stable record: arkansas_code:legal_authorities:26-51-445
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 07dcdb3392e0460720340aa2dc1286f2eb46c5aef84cbbbdebc987a68cdae418
Source location: content.xml paragraph 13068
Stored source content
26-51-445. Adoption expenses.
(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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Federal law — U.S. Code and appendices · legal_authorities
**(a) Allowance of credit**
(1) **In general** — In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter the amount of the qualified adoption expenses paid or incurred by the taxpayer.
(2) **Year credit allowed** — The credit under paragraph (1) with respect to any expense shall be allowed—
(A) in the case of any expense paid or incurred before the taxable year in which such adoption becomes final, for the taxable year following the taxable year during which such expense is paid or incurred, and
(B) in the case of an expense paid or incurred during or after the taxable year in which such adoption becomes final, for the taxable year in which such expense is paid or incurred.
(3) **$10,000 credit for adoption of child with special needs regardless of expenses** — In the case of an adoption of a child with special needs which becomes final during a taxable year, the taxpayer shall be treated as having paid during such year qualified adoption expenses with respect to such adoption in an amount equal to the excess (if any) of $10,000 over the aggregate qualified adoption expenses actually paid or incurred by the taxpayer with respect to such adoption during such taxable year and all prior taxable years.
(4) **Portion of credit refundable** — So much of the credit allowed under paragraph (1) as does not exceed $5,000 shall be treated as a credit allowed under subpart C and not as a credit allowed under this subpart.
**(b) Limitations**
(1) **Dollar limitation** — The aggregate amount of qualified adoption expenses which may be taken into account under subsection (a) for all taxable years with respect to the adoption of a child by the taxpayer shall not exceed $10,000.
(2) **Income limitation**
(A) *In general* —
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 23
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 23. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 75
TITLE 26—INTERNAL REVENUE CODE
§ 23
Subsec. (d). Pub. L. 87–876 increased the limit on re-
tirement income from $1,200 to $1,524, lowered the age
requirement in par. (2)(A) from 65 to 62, and substituted
provisions in par. (2)(B) which reduce the amount of re-
tirement income for individuals who reach age 62, by
one-half the amount of earned income in excess of
$1,200 but not in excess of $1,700, and by the amount re-
ceived over $1,700, for provisions which reduced such in-
come by the amount earned over $1,200 by persons hav-
ing reached age 65, and which defined income as in sub-
sec. (g) of this section.
1956—Subsec. (d)(2). Act Jan. 28, 1956, reduced from 75
to 72 the age at which there will be no limitation on
earned income and increased from $900 to $1,200 the
amount that an individual over 65 can earn without re-
ducing the $1,200 on which the retirement credit is com-
puted.
1955—Subsec. (f). Act Aug. 9, 1955, extended the retire-
ment income tax credit to members of the Armed
Forces.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by Pub. L. 99–514 applicable to bonds
issued after Aug. 15, 1986, except as otherwise provided,
see sections 1311 to 1318 of Pub. L. 99–514, set out as an
Effective Date; Transitional Rules note under section
141 of this title.
EFFECTIVE DATE OF 1984 AMENDMENT
Amendment by section 474(d) of Pub. L. 98–369 appli-
cable to taxable years beginning after Dec. 31, 1983, and
to carrybacks from such years, see section 475(a) of
Pub. L. 98–369, set out as a note under section 21 of this
title.
EFFECTIVE DATE OF 1983 AMENDMENT
Pub. L. 98–21, title I, § 122(d), Apr. 20, 1983, 97 Stat. 87,
as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat.
2095, provided that:
‘‘(1)
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 23
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 23. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 168
TITLE 26—INTERNAL REVENUE CODE
[§ 36C
apply to notices with respect to years beginning after
December 31, 2016.
‘‘(ii) TRANSITION RELIEF.—For purposes of section
6652(o) of the Internal Revenue Code of 1986 (as added
by this Act), a person shall not be treated as failing
to provide a written notice as required by section
9831(d)(4) of such Code if such notice is so provided
not later than 90 days after the date of the enactment
of this Act [Dec. 13, 2016].
‘‘(E) W–2 REPORTING.—The amendments made by para-
graph (6)(A) [amending section 6051 of this title] shall
apply to calendar years beginning after December 31,
2016.
‘‘(F) INFORMATION PROVIDED BY EXCHANGE SUBSIDY AP-
PLICANTS.—
‘‘(i) IN GENERAL.—The amendments made by para-
graph (6)(B) [amending section 18081 of Title 42] shall
apply to applications for enrollment made after De-
cember 31, 2016.
‘‘(ii) VERIFICATION.—Verification under section 1411
of the Patient Protection and Affordable Care Act [42
U.S.C. 18081] of information provided under section
1411(b)(3)(B) of such Act shall apply with respect to
months beginning after October 2016.
‘‘(iii) TRANSITIONAL RELIEF.—In the case of an appli-
cation for enrollment under section 1411(b) of the Pa-
tient Protection and Affordable Care Act [42 U.S.C.
18081(b)] made before April 1, 2017, the requirement of
section 1411(b)(3)(B) of such Act shall be treated as
met if the information described therein is provided
not later than 30 days after the date on which the ap-
plicant receives the notice described in section
9831(d)(4) of the Internal Revenue Code of 1986.’’
EFFECTIVE DATE OF 2011 AMENDMENT
Pub. L. 112–56, title IV, § 401(b), Nov. 21, 2011, 125 Stat.
734, provided that: ‘‘The amendments made by this sec-
tion [amending this secti
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 36C
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 36C. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
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Source: U.S. Code supplied Markdown snapshot · 26 U.S.C. § 36C
Stored review status: release_metadata_unconfirmed; partially_verified. The source passage cites 26 U.S.C. § 36C. This identifies an authority to review, not proof of applicability.