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26-51-458. Deduction — Volunteer firefighter — Definition.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-458. Deduction — Volunteer firefighter — Definition.
(a) In computing net income for the purposes of the Income Tax Act of 1929, § 26-51-101 et seq., there is allowed as a deduction in addition to all other deductions allowed by law for the:
(1) Amount paid by a volunteer firefighter and not reimbursed by the fire department or firefighting unit that the volunteer firefighter serves to purchase firefighting equipment required by the fire department or firefighting unit; and
(2) Loss of value of personal property of a volunteer firefighter that is damaged or destroyed in the course of his or her participation in fire suppression, rescue, pump operation, or other firefighting activity as a volunteer firefighter.
(b) The deduction allowed under subsection (a) of this section shall not exceed one thousand dollars ($1,000).
(c) As used in this section, “volunteer firefighter” means a member of a fire department or firefighting unit who:
(1) Actively engages in fire suppression, rescue, pump operation, or other firefighting activity; and
(2) Receives less than five thousand dollars ($5,000) in total compensation during the taxable year from the volunteer fire department or firefighting unit that the volunteer firefighter serves.
(d) The Secretary of the Department of Finance and Administration may promulgate rules to implement this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-458
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:26-51-458
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c8a9647429f2ec8bedfe1f46fb6400fbd906b56d791314f4078045af9c76ae83
Source location: content.xml paragraph 13178
Stored source content
26-51-458. Deduction — Volunteer firefighter — Definition.
(a) In computing net income for the purposes of the Income Tax Act of 1929, § 26-51-101 et seq., there is allowed as a deduction in addition to all other deductions allowed by law for the:
(1) Amount paid by a volunteer firefighter and not reimbursed by the fire department or firefighting unit that the volunteer firefighter serves to purchase firefighting equipment required by the fire department or firefighting unit; and
(2) Loss of value of personal property of a volunteer firefighter that is damaged or destroyed in the course of his or her participation in fire suppression, rescue, pump operation, or other firefighting activity as a volunteer firefighter.
(b) The deduction allowed under subsection (a) of this section shall not exceed one thousand dollars ($1,000).
(c) As used in this section, “volunteer firefighter” means a member of a fire department or firefighting unit who:
(1) Actively engages in fire suppression, rescue, pump operation, or other firefighting activity; and
(2) Receives less than five thousand dollars ($5,000) in total compensation during the taxable year from the volunteer fire department or firefighting unit that the volunteer firefighter serves.
(d) The Secretary of the Department of Finance and Administration may promulgate rules to implement this section.
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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.