This bill amends the Arkansas Code to introduce a new section, 26-51-462, which allows for a deduction of certain qualified business expenses under the Income Tax Act of 1929. Specifically, it adopts the provisions of Title 26 U.S.C. 199A(a)-(h) as they are effective on January 1, 2025, for the purpose of calculating Arkansas income tax liability. This change aims to align state tax regulations with federal guidelines regarding qualified business income deductions.

Additionally, the bill specifies that the new deduction will be effective for tax years beginning on or after January 1, 2025. This timeline provides a clear implementation date for taxpayers and ensures that the new provisions will be in place for future tax calculations.