006.05.95 Ark. Code R. 010
The Commissioner of Revenue, pursuant to his authority under Ark. Code Ann. § 26-18-301 and Ark. Code Ann. § 26-51-423(a)(3) (Supp. 1993), does hereby issue the following regulation. This regulation supersedes Revenue Division Regulation 1994-2.
The optional standard mileage rate, for use by employees or self-employed individuals in computing the income tax deductible costs of operating passenger automobiles owned by them for business purposes, is thirty cents (30¢) per mile.
The optional mileage rate for use by individuals in computing the income tax deductible costs of operating passenger automobiles owed by them for a charitable organization is twelve cents (12¢) per mile.
The optional standard mileage rate for business use of a vehicle by a rural mail carrier is forty-five cents (45¢) per mile.
The optional standard mileage rate allowed in computing the cost of operating a car where transportation expenses are deductible as a medical expense is nine cents (9¢) per mile.
The mileage rate stated above shall be in effect beginning on and after January 1, 1995.
006.05.95 Ark. Code R. 010