§ 26-51-309 - Charitable remainder trusts. - Arkansas Statutes

26-51-309. Charitable remainder trusts.

(a) Section 664 of the Internal Revenue Code of 1986, as in effect on January 1, 2007, and the regulations of the Secretary of the Treasury promulgated under 664 of the Internal Revenue Code of 1986 and in effect on January 1, 2007, are adopted for the purpose of computing the tax liability of charitable remainder trusts and their beneficiaries under the Income Tax Act of 1929, 26-51-101 et seq.

(b) Furthermore, any other provision of the federal income tax law and regulations which are necessary for interpreting and implementing 26 U.S.C. 664 are adopted to the extent as in effect on January 1, 2007.