1.26 Ark. Code R. 51-423(b)
Current through Register Vol. 49, No. 10, October, 2024
For tax years beginning before 01/01/95, IRC Sec. 274 as in effect 01/01/89 shall apply. For tax years 1995 and 1996, IRC Sec. 274 as in effect on 01/01/95 shall apply. Beginning with the 1997 tax year, IRC Sec. 274 as in effect on 01/01/97 shall apply. 80% of qualified expenses will be allowed for tax years beginning before 01/01/95, and 50% of qualified expenses will be allowed for tax years beginning on or after 01/01/95.
1.26 Ark. Code R. 51-423(b)