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006.05.308-26-51-423. DEDUCTIONS - EXPENSES

AR ADC 006.05.308-26-51-423Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 05. Division of Revenues
Rule 308. Comprehensive Corporation Income Tax Regulations (Refs & Annos)
Ark. Admin. Code 006.05.308-26-51-423
006.05.308-26-51-423. DEDUCTIONS - EXPENSES
Currentness
1.26-51-423(b) Travel and Entertainment
For tax years beginning before 01/01/95, IRC Section 274 as in effect 01/01/89 shall apply.
For tax years beginning on or after 01/01/95, IRC Section 274 as in effect 01/01/95 shall apply.
Eighty percent (80%) of qualified expenses will be allowed in tax years beginning before 01/01/95, and 50% of qualified expenses will be allowed in tax years beginning on or after 01/01/95. For tax years beginning on or after 01/01/97, IRC Section 274 as in effect on 01/01/97 shall apply. The percentage will gradually rise beginning in 1998 as set forth below:
For taxable years beginning in
The applicable calendar year -percentage is -
1998 or 1999
55%
2000 or 2001
60%
2002 or 2003
65%
2004 or 2005
70%
2006 or 2007
75%
2008 or thereafter
80%
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.308-26-51-423, AR ADC 006.05.308-26-51-423
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