Ark. Code Ann. § 26-51-424 (2020)
Deductions — Losses
History. Acts 1929, No. 118, Art. 3, § 13; Pope's Dig., § 14036; Acts 1957, No. 147, § 1; 1983, No. 379, § 10; A.S.A. 1947, § 84-2016; Acts 1999, No. 1126, § 31; 2009, No. 372, § 17; 2017, No. 155, § 21.
Amendments. The 2009 amendment deleted (a)(2)(C) and made related changes; and rewrote (b).
The 2017 amendment added “including without limitation gambling losses, which are” in (a)(2)(B); and added (a)(2)(B)(i) and (a)(2)(B)(ii).
Effective Dates. Acts 2017, No. 155, § 25: effective for tax years beginning on and after January 1, 2015.
Research References
U. Ark. Little Rock L.J.
Legislation of the 1983 General Assembly, Taxation, 6 U. Ark. Little Rock L.J. 636.
Case Notes
Cited: Wiseman v. Interstate Pub. Serv. Co., 191 Ark. 255, 85 S.W.2d 700 (1935).