Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
Regulation 1997-4 - Comprehensive Individual Income Tax Regulations
Rule 26-51-440 - FASITs
Rule 1.26-51-447 - Deduction - College and Technical School Tuition
Current through Register Vol. 49, No. 9, September, 2024
An itemized deduction from the taxpayer's AGI shall be allowed for a portion of the tuition paid by the taxpayer for the taxpayer, the taxpayer's spouse or dependent(s) to attend post-secondary educational institutions which fall into the following classifications:
a. Four-year colleges and universities;
b. Two-year community colleges;
c. Technical institutes and colleges.
The deduction shall be limited to the lesser of:
a. 50% of the amount actually paid for tuition; or
b. 50% of a "weighted average tuition" for post-secondary educational institutions within the same classification. On or before November 30th of each year (beginning with November 30th, 1998), the Office of Income Tax Administration shall obtain and make available the weighted average tuition for each of the three classifications.
This deduction includes tuition paid to qualifying post-secondary educational institutions located both inside and outside of Arkansas.
The deduction will be allowable for tax years beginning on or after January 1, 1998.
