Arkansas Administrative Code › Agency 006 - Department of Finance and Administration › Division 05 - Division of Revenues › Regulation 1997-4 - Comprehensive Individual Income Tax Regulations › Rule 26-51-909 - ANNUAL WITHHOLDING STATEMENT › Rule 1.26-51-909(b) - Filing Requirement - Due Date

Current through Register Vol. 49, No. 6, June, 2024
The Annual Withholding Tax Reconciliation statement with
					 attached W-2's shall be filed with the Department on or before February 28
					 following the close of the income year.
The statement from the employer for the employee (Form W-2)
					 shall be provided to the employee on or before January 31 following the close
					 of the income year. However, if the employment of the employee is terminated
					 during the calendar year, the employer shall furnish the W-2 to the employee at
					 the time of termination of the employment.
The Form 1096 Transmittal with attached Form 1099's shall
					 be filed with the Department on or before February 28 following the close of
					 the income year.
Act 1309 of 1997
1.26-51-___ Tuition Savings Program --
					 Generally
The Arkansas Tax-Deferred Tuition Savings Program Act of
					 1997 will become effective on August 1, 1997. This Act is based closely upon
					 the federal law regarding qualified state tuition programs, found at IRC Sec.
					 529.
For purposes of administering Arkansas' Tuition Savings Program Act,
					 the provisions of IRC Sec. 529 regarding qualified state tuition programs
					 should be considered to have been adopted as Arkansas law.
Arkansas residents or nonresidents may make cash
					 contributions to a special tax-deferred account for the purpose of accumulating
					 funds to pay the expenses of attending a post-secondary institution of higher
					 education located either inside or outside of Arkansas. The contributions will
					 be held, invested and accounted for by the Arkansas Teacher Retirement
					 System.
"Expenses" shall be limited to tuition, fees, books,
					 supplies and equipment required for enrollment or attendance at the
					 post-secondary institution.
"Post-secondary institutions of higher education" shall
					 include two and four year: colleges; universities; technical schools; and
					 institutes. Institutions that meet all of the following criteria would also
					 qualify:
a) the institution provides
				  not less than a 6-month program of training to prepare students for gainful
				  employment in a recognized occupation;
b) the institution is licensed by the
				  Arkansas State Board of Private Career Education or accredited by a nationally
				  recognized accrediting agency;
c)
				  the institution has been in existence for at least two (2) years; and
d) admits as regular students persons who are
				  beyond the age of compulsory school attendance within the State of Arkansas.
				  IRC Sec. 135(c)(3); 20 U.S.C. Sec. 1201a(10); 20 U.S.C. Sec. 1088.
The account must have a designated beneficiary, which must
					 be either the contributor to the account or a member of the contributor's
					 family. Qualifying family members are limited to the following:
a) an ancestor of the contributor;
b) a contributor's spouse;
c) a lineal descendant of:
i. the contributor;
ii. the contributor's spouse; or
iii. a parent of the contributor;
				  or