(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.
Section: Previous 26-51-436 26-51-437 26-51-439 26-51-440 26-51-442 26-51-443 26-51-444 26-51-445 26-51-446 26-51-447 26-51-448 26-51-450 26-51-453 26-51-457 26-51-458 NextLast modified: November 15, 2016