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26-51-501. Personal tax credits — Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-501. Personal tax credits — Definitions.
(a) There shall be deducted from the tax after the tax shall have been computed as set forth in the Income Tax Act of 1929, § 26-51-101 et seq., a personal tax credit as follows:
(1)(A) For a single individual, the adjusted individual credit.
(B) However, a taxpayer who was blind or deaf at any time during the income year shall be entitled to an additional tax credit of twenty dollars ($20.00).
(C) A single individual who is deaf-blind shall be entitled to an additional tax credit of forty dollars ($40.00).
(D) A single individual of sixty-five (65) years of age or older shall be entitled to an additional tax credit of twenty dollars ($20.00);
(2)(A)(i)(a) For the head of household, surviving spouse, or a married individual living with husband or wife, the adjusted joint credit.
(b) A husband and wife living together and filing either jointly or separately on the same income tax form shall receive only one (1) adjusted joint credit against their aggregate tax.
(ii) Subdivision (a)(2)(A)(i) of this section shall apply if the Secretary of the Department of Finance and Administration continues to provide a tax return on which a husband and wife can elect to file jointly or separately on the same return.
(B) However, in the event that the husband or wife shall be sixty-five (65) years of age or older, each of them who is sixty-five (65) years of age or older shall be entitled to an additional tax credit of twenty dollars ($20.00).
(C) However, any husband or wife filing a separate return on a separate tax form shall receive the adjusted individual credit on each return so filed, but if the husband or wife is sixty-five (65) years of age or older, each of them who is sixty-five (65) years of age or older shal
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-501
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26-51-501. Personal tax credits — Definitions.
(a) There shall be deducted from the tax after the tax shall have been computed as set forth in the Income Tax Act of 1929, § 26-51-101 et seq., a personal tax credit as follows:
(1)(A) For a single individual, the adjusted individual credit.
(B) However, a taxpayer who was blind or deaf at any time during the income year shall be entitled to an additional tax credit of twenty dollars ($20.00).
(C) A single individual who is deaf-blind shall be entitled to an additional tax credit of forty dollars ($40.00).
(D) A single individual of sixty-five (65) years of age or older shall be entitled to an additional tax credit of twenty dollars ($20.00);
(2)(A)(i)(a) For the head of household, surviving spouse, or a married individual living with husband or wife, the adjusted joint credit.
(b) A husband and wife living together and filing either jointly or separately on the same income tax form shall receive only one (1) adjusted joint credit against their aggregate tax.
(ii) Subdivision (a)(2)(A)(i) of this section shall apply if the Secretary of the Department of Finance and Administration continues to provide a tax return on which a husband and wife can elect to file jointly or separately on the same return.
(B) However, in the event that the husband or wife shall be sixty-five (65) years of age or older, each of them who is sixty-five (65) years of age or older shall be entitled to an additional tax credit of twenty dollars ($20.00).
(C) However, any husband or wife filing a separate return on a separate tax form shall receive the adjusted individual credit on each return so filed, but if the husband or wife is sixty-five (65) years of age or older, each of them who is sixty-five (65) years of age or older shall be entitled to an additional tax credit of twenty dollars ($20.00).
(D) “Head of household” means the same as defined in 26 U.S.C. § 2(b), as in effect on January 1, 2001.
(E) “Surviving spouse” means the same as defined in 26 U.S.C. § 2(a), as in effect on January 1, 2001;
(3)(A) For each individual, other than husband or wife, who has a gross income for the tax year of less than three thousand dollars ($3,000), who has not filed a joint return with his or her spouse for the taxable year, and who is dependent upon and receives his or her chief support from the taxpayer, the adjusted individual credit.
(B)(i) As used in subdivision (a)(3)(A) of this section, “dependent” means the same as defined in 26 U.S.C. § 152, as in effect on January 1, 2005.
(ii) “Dependent” does not include any individual who is a citizen or subject of a foreign country unless that individual is a resident of the United States or a country contiguous to the United States.
(C)(i) As used in subdivision (a)(3)(B) of this section, “brother” and “sister” include a brother or sister by half blood.
(ii) For the purpose of determining whether any of the foregoing relationships exist, a legally adopted child of a person shall be considered a child of that person by blood;
(4) In the case of a fiduciary:
(A) If taxable under § 26-51-203(a)(1), the adjusted individual credit;
(B) If taxable under § 26-51-203(a)(2), the same tax credit as would be allowed the deceased if living; and
(C) If taxable under § 26-51-203(a)(3), the tax credit to which the beneficiary would be entitled; and
(5) In the case of a nonresident taxpayer, the taxpayer shall be entitled to that proportion of the tax credit granted by the Income Tax Act of 1929, § 26-51-101 et seq., that the gross income within the state bears to the entire gross income wherever earned.
(b)(1) The status of the last day of the income year shall determine the right to the tax credits provided in this section.
(2) However, a taxpayer shall be entitled to tax credits for a husband or wife or a dependent who has died during the income year.
(c)(1) As used in this section, “blind person” means any person:
(A) Who is totally blind, and cannot tell light from darkness;
(B) A person whose central visual acuity does not exceed 20/200 in the better eye with correcting lenses; or
(C) Whose fields of vision are so limited that the widest diameter of the visual field subtends an angle no greater than twenty degrees (20°).
(2) For the purposes of subdivision (a)(1) of this section:
(A) An individual is deaf only if his or her average loss in the speech frequencies which are five hundred hertz (500 Hz) to two thousand hertz (2,000 HZ) in the better ear is eighty-six decibels (86 dB), International Organization for Standardization, or worse; and
(B) An individual is deaf-blind only if he or she is both deaf and blind.
(d) For the purposes of this section:
(1) “Adjusted individual credit” shall be twenty dollars ($20.00); and
(2) “Adjusted joint credit” shall be forty dollars ($40.00).
(e)(1)(A) Not later than July 15 of each calendar year, the Secretary of the Department of Finance and Administration shall increase the adjusted individual credit and adjusted joint credit by the cost-of-living adjustment for that current calendar year, rounding each amount to the nearest dollar.
(B) The annual cost-of-living adjustment shall apply to the adjusted credits as contained in subdivisions (d)(1) and (2) of this section.
(2)(A) For purposes of subdivision (e)(1) of this section, the cost-of-living adjustment for any calendar year is the percentage, if any, by which the Consumer Price Index for the calendar year preceding the taxable year exceeds the Consumer Price Index for the calendar year 2001.
(B) The Consumer Price Index for any calendar year is the average of the Consumer Price Index as of the close of the twelve-month period ending on August 31 of that calendar year.
(C) As used in this subsection, “Consumer Price Index” means the last Consumer Price Index for All Urban Consumers published by the United States Department of Labor.
(3) The adjusted credit amounts shall apply for tax years beginning on and after January 1, 2003.
(4) The secretary shall not increase the adjusted credit for any calendar year unless the conditions of subsection (f) of this section are met.
(f) The adjusted credit applicable for any calendar year shall not be increased unless:
(1) The net available general revenue forecast provided to the Joint Committee on Economic and Tax Policy under § 10-3-1404(a)(1)(A) in May of the calendar year for which a credit increase is contemplated indicates that net available general revenue growth for the fiscal year beginning in the calendar year for which a credit increase is contemplated will be four and two-tenths percent (4.2%) or greater; and
(2) Either:
(A) The net available general revenues for the fiscal year ending in the calendar year for which a credit increase is contemplated exceed the official forecast by at least five-tenths of one percent (0.5%); or
(B) The net available general revenues for the fiscal year ending in the calendar year for which a credit increase is contemplated exceed the total distributions for that fiscal year under the provisions of the Revenue Stabilization Law, § 19-5-101 et seq.
(g) Title 26 U.S.C. § 151(c)(6), as in effect on January 1, 2003, regarding the tax treatment of kidnapped children, is adopted for the purpose of computing Arkansas income tax liability.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Allowance of deductions** In the case of an individual, the exemptions provided by this section shall be allowed as deductions in computing taxable income.
**(b) Taxpayer and spouse** An exemption of the exemption amount for the taxpayer; and an additional exemption of the exemption amount for the spouse of the taxpayer if a joint return is not made by the taxpayer and his spouse, and if the spouse, for the calendar year in which the taxable year of the taxpayer begins, has no gross income and is not the dependent of another taxpayer.
**(c) Additional exemption for dependents** An exemption of the exemption amount for each individual who is a dependent (as defined in section 152) of the taxpayer for the taxable year.
**(d) Exemption amount** For purposes of this section—
(1) **In general** — Except as otherwise provided in this subsection, the term “exemption amount” means $2,000.
(2) **Exemption amount disallowed in case of certain dependents** — In the case of an individual with respect to whom a deduction under this section is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins, the exemption amount applicable to such individual for such individual’s taxable year shall be zero.
(3) **Phaseout**
(A) *In general* — In the case of any taxpayer whose adjusted gross income for the taxable year exceeds the applicable amount in effect under section 68(b),11 See References in Text note below. the exemption amount shall be reduced by the applicable percentage.
(B) *Applicable percentage* — For purposes of subparagraph (A), the term “applicable percentage” means 2 percentage points for each $2,500 (or fraction thereof) by which the taxpayer’s adjusted gross income for the taxable year e
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 151
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 151. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 715
TITLE 26—INTERNAL REVENUE CODE
§ 151
Subsec. (e)(2). Pub. L. 100–647, § 6182(a), inserted at end
‘‘For purposes of subparagraph (A), other firefighting
services provided in an area shall be disregarded in de-
termining whether an organization is a qualified volun-
teer fire department if such other firefighting services
are provided by a qualified volunteer fire department
(determined with the application of this sentence) and
such organization and the provider of such other serv-
ices have been continuously providing firefighting serv-
ices to such area since January 1, 1981.’’
Subsec. (e)(3). Pub. L. 100–647, § 1013(a)(24)(A), added
par. (3).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1996 AMENDMENT
Pub. L. 104–188, title I, § 1614(b), Aug. 20, 1996, 110 Stat.
1853, provided that: ‘‘The amendment made by this sec-
tion [amending this section] shall take effect on the
date of the enactment of this Act [Aug. 20, 1996].’’
EFFECTIVE DATE OF 1988 AMENDMENT
Pub. L. 100–647, title I, § 1013(a)(24)(B), Nov. 10, 1988,
102 Stat. 3543, provided that: ‘‘The amendment made by
subparagraph (A) [amending this section] shall apply to
bonds issued after October 21, 1988.’’
Amendment by section 1013(a)(23), (30)–(33) of Pub. L.
100–647 effective, except as otherwise provided, as if in-
cluded in the provision of the Tax Reform Act of 1986,
Pub. L. 99–514, to which such amendment relates, see
section 1019(a) of Pub. L. 100–647, set out as a note
under section 1 of this title.
Pub. L. 100–647, title VI, § 6182(c), Nov. 10, 1988, 102
Stat. 3729, provided that: ‘‘The amendments made by
this section [amending this section] shall apply to
bonds issued after the date of the enactment of this Act
[Nov. 10, 1988].’’
EFFECTIVE DATE
Section applica
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 151
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 151. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** For purposes of this subtitle, the term “dependent” means—
(1) a qualifying child, or
(2) a qualifying relative.
**(b) Exceptions** For purposes of this section—
(1) **Dependents ineligible** — If an individual is a dependent of a taxpayer for any taxable year of such taxpayer beginning in a calendar year, such individual shall be treated as having no dependents for any taxable year of such individual beginning in such calendar year.
(2) **Married dependents** — An individual shall not be treated as a dependent of a taxpayer under subsection (a) if such individual has made a joint return with the individual’s spouse under section 6013 for the taxable year beginning in the calendar year in which the taxable year of the taxpayer begins.
(3) **Citizens or nationals of other countries**
(A) *In general* — The term “dependent” does not include an individual who is not a citizen or national of the United States unless such individual is a resident of the United States or a country contiguous to the United States.
(B) *Exception for adopted child* — Subparagraph (A) shall not exclude any child of a taxpayer (within the meaning of subsection (f)(1)(B)) from the definition of “dependent” if—
(i) for the taxable year of the taxpayer, the child has the same principal place of abode as the taxpayer and is a member of the taxpayer’s household, and
(ii) the taxpayer is a citizen or national of the United States.
**(c) Qualifying child** For purposes of this section—
(1) **In general** — The term “qualifying child” means, with respect to any taxpayer for any taxable year, an individual—
(A) who bears a relationship to the taxpayer described in paragraph (2),
(B) who has the same principal place of abode as the taxpayer for more than one
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 152
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 152. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 718
TITLE 26—INTERNAL REVENUE CODE
§ 152
tion 151(a) of Pub. L. 99–514, set out as a note under sec-
tion 1 of this title.
Amendment by section 1847(b)(3) of Pub. L. 99–514 ef-
fective, except as otherwise provided, as if included in
the provisions of the Tax Reform Act of 1984, Pub. L.
98–369, div. A, to which such amendment relates, see
section 1881 of Pub. L. 99–514, set out as a note under
section 48 of this title.
EFFECTIVE DATE OF 1984 AMENDMENT
Pub. L. 98–369, div. A, title IV, § 426(b), July 18, 1984,
98 Stat. 805, provided that: ‘‘The amendment made by
subsection (a) [amending this section] shall apply to
taxable years beginning after December 31, 1984.’’
EFFECTIVE DATE OF 1981 AMENDMENT
Amendment by Pub. L. 97–34 applicable to taxable
years beginning after Dec. 31, 1984, see section 104(e) of
Pub. L. 97–34, set out as a note under section 1 of this
title.
EFFECTIVE DATE OF 1978 AMENDMENT
Pub. L. 95–600, title I, § 102(d)(1), Nov. 6, 1978, 92 Stat.
2771, provided that: ‘‘The amendments made by sub-
sections (a) and (b) [amending this section and sections
6012 and 6013 of this title] shall apply to taxable years
beginning after December 31, 1978.’’
EFFECTIVE DATE OF 1976 AMENDMENT
Amendment by Pub. L. 94–455 applicable with respect
to taxable years beginning after Dec. 31, 1976, see sec-
tion 1901(d) of Pub. L. 94–455, set out as a note under
section 2 of this title.
EFFECTIVE DATE OF 1971 AMENDMENT
Pub. L. 92–178, title II, § 201(a), (b), Dec. 10, 1971, 85
Stat. 510, provided in part that the increase in exemp-
tion from $650 to $675 was effective with respect to tax-
able years beginning after Dec. 31, 1970, and before Jan.
1, 1972, and from $675 to $750 was effective with respect
to taxable years beginning after Dec. 31, 1971.
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 152
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 152. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition of surviving spouse**
(1) **In general** — For purposes of section 1, the term “surviving spouse” means a taxpayer—
(A) whose spouse died during either of his two taxable years immediately preceding the taxable year, and
(B) who maintains as his home a household which constitutes for the taxable year the principal place of abode (as a member of such household) of a dependent (i) who (within the meaning of section 152, determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof) is a son, stepson, daughter, or stepdaughter of the taxpayer, and (ii) with respect to whom the taxpayer is entitled to a deduction for the taxable year under section 151.
(2) **Limitations** — Notwithstanding paragraph (1), for purposes of section 1 a taxpayer shall not be considered to be a surviving spouse—
(A) if the taxpayer has remarried at any time before the close of the taxable year, or
(B) unless, for the taxpayer’s taxable year during which his spouse died, a joint return could have been made under the provisions of section 6013 (without regard to subsection (a)(3) thereof).
(3) **Special rule where deceased spouse was in missing status** — If an individual was in a missing status (within the meaning of section 6013(f)(3)) as a result of service in a combat zone (as determined for purposes of section 112) and if such individual remains in such status until the date referred to in subparagraph (A) or (B), then, for purposes of paragraph (1)(A), the date on which such individual died shall be treated as the earlier of the date determined under subparagraph (A) or the date determined under subparagraph (B):
(A) the date on which the determination is made under [section 556 of title 37](https://uscode.house.gov/view.xhtml?req=granuleid:
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 2
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 2. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 56
TITLE 26—INTERNAL REVENUE CODE
§ 2
ance as may be necessary to carry out the provisions of
this order, subject to the availability of appropriations;
and may work with established or ad hoc committees
and interagency groups.
SEC. 4. Interagency Coordination. (a) [Amended Ex.
Ord. No. 14008, set out as a note under section 4321 of
Title 42, The Public Health and Welfare.]
(b) [Amended Ex. Ord. No. 12898, set out as a note
under section 4321 of Title 42.]
(c) [Amended Ex. Ord. No. 14052, set out as a note
under section 101 of Title 23, Highways.]
SEC. 5. General Provisions. (a) Nothing in this order
shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive de-
partment or agency, or the head thereof; or
(ii) the functions of the Director of the Office of Man-
agement and Budget relating to budgetary, administra-
tive, or legislative proposals.
(b) This order shall be implemented consistent with
applicable law and subject to the availability of appro-
priations.
(c) This order is not intended to, and does not, create
any right or benefit, substantive or procedural, enforce-
able at law or in equity by any party against the
United States, its departments, agencies, or entities,
its officers, employees, or agents, or any other person.
J.R. BIDEN, JR.
§ 2. Definitions and special rules
(a) Definition of surviving spouse
(1) In general
For purposes of section 1, the term ‘‘sur-
viving spouse’’ means a taxpayer—
(A) whose spouse died during either of his
two taxable years immediately preceding
the taxable year, and
(B) who maintains as his home a household
which constitutes for the taxable year the
principal place of abode (as a member of
such household) of a dependent (i) who
(within the meaning o
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 2
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 2. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
10-3-1404. Forecast of general revenues.
(a)(1) On or before the third Wednesday in May before the beginning of each fiscal year, the Chief Fiscal Officer of the State shall submit to the Joint Committee on Economic and Tax Policy the following forecasts of general revenues to be available under the Revenue Stabilization Law, § 19-5-101 et seq.:
(A) The official forecast for the upcoming fiscal year, including any revisions necessitated by the revised forecast required under subdivision (a)(1)(B) of this section; and
(B) A revised forecast for the current fiscal year.
(2)(A) The Joint Committee on Economic and Tax Policy may hold meetings and hearings and request such information, data, or studies as it deems necessary.
(B) Upon hearing evidence and information regarding the outlook for state revenues, the Joint Committee on Economic and Tax Policy shall make its findings on the forecasts of general revenues available for distribution.
(3) A report of the Joint Committee on Economic and Tax Policy's findings shall be sent to the Chief Fiscal Officer of the State.
(b) If the Chief Fiscal Officer of the State determines it has become necessary to change either forecast of general revenues available for distribution, the Chief Fiscal Officer of the State shall report the expected change in forecast to the Office of Economic and Tax Policy and the Joint Committee on Economic and Tax Policy with an explanation of the need for the change.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 10-3-1404
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 10-3-1404. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-101. Title.
This chapter shall be known and cited as the “Revenue Stabilization Law”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-101
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 19-5-101. This identifies an authority to review, not proof of applicability.
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.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-203. Fiduciaries.
(a) The tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., shall be imposed upon resident fiduciaries, which tax shall be levied, collected, and paid annually with respect to:
(1) That part of the net income of estates or trusts which has not been distributed or become distributable to beneficiaries during the income year. In the case of two (2) or more joint fiduciaries, part of whom are nonresidents of this state, such part of the net income shall be treated as if each fiduciary had received an equal share;
(2) The net income received during the income year by deceased individuals who at the time of death were residents and who have died during the tax year without having made a return; and
(3) The entire net income of resident insolvent or incompetent individuals, whether or not any portion thereof is held for the future use of the beneficiaries, where the fiduciary has complete charge of the net income.
(b) The tax imposed upon a fiduciary by the Income Tax Act of 1929, § 26-51-101 et seq., shall be a charge against the estate or trust.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-203
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 26-51-203. This identifies an authority to review, not proof of applicability.