(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.
(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.