1. (a) Arkansas has adopted I.R.C. § 170 as referenced in Arkansas Code § 26-51-419.

2. (b)

   1. (1) I.R.C. § 170(d)(2)(B) does not allow unused contributions to increase NOL carry forward.
   2. (2) It merely decreases net taxable income by accumulated contributions carry forward first up to ten percent (10%), therefore decreasing the amount of NOL used, and thus results in an increase of NOL for future years.

Codification Notes: “NOL” means net operating loss.