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26-51-1012. Deduction for project costs above tax credit.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-1012. Deduction for project costs above tax credit.
(a) In determining net income for Arkansas income tax purposes, any approved applicant qualifying for the tax credits provided in this subchapter is also entitled to a deduction in an amount equal to the project cost less the total amount of tax credits to which the approved applicant is entitled under this subchapter.
(b) The deduction provided for in this subchapter shall be taken only during the year in which the expenditures for the project were actually incurred.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-1012
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:26-51-1012
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2fb126fbf8479c0248926968d2cab573dbbdd3364be6be0eea22d1463f60f121
Source location: content.xml paragraph 15267
Stored source content
26-51-1012. Deduction for project costs above tax credit.
(a) In determining net income for Arkansas income tax purposes, any approved applicant qualifying for the tax credits provided in this subchapter is also entitled to a deduction in an amount equal to the project cost less the total amount of tax credits to which the approved applicant is entitled under this subchapter.
(b) The deduction provided for in this subchapter shall be taken only during the year in which the expenditures for the project were actually incurred.
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