Arkansas Statutes § 7-6-222 Tax credits for certain individual political contributions
Statute Text
(a)
Pursuant to rules to be adopted by the Department of Finance and Administration, a credit against individual Arkansas income taxes shall be allowed for money contributions made by the taxpayer in a taxable year to one (1) or more of the following:
(1)
A candidate seeking nomination or election to a public office at an election or to the candidate's campaign committee;
(2)
An approved political action committee as defined in §
7-6-201
; or
(3)
An organized political party as defined in §
7-1-101
.
(b)
The credit allowed by subsection (a) of this section shall be the aggregate contributions, not to exceed fifty dollars ($50.00), on an individual tax return, or the aggregate contributions, not to exceed one hundred dollars ($100), on a joint return.
(c)
Credits for contributions qualifying under this section and made prior to April 15 in a calendar year may be applied to the return filed for the previous taxable year.
History
Amended by Act 2019 , No. 315 , § 421 , eff. 7/24/2019 .
Init. Meas. 1996, No. 1, § 10; Acts 1999, No. 1446, § 1; 2003, No. 774, § 1; 2005, No. 1284, § 7; 2007, No. 221, § 11.
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