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26-51-1202. Certification required.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-1202. Certification required.
(a) To claim the benefits of this section, § 26-51-1201, and § 26-51-1203, a taxpayer must obtain a certification from the Director of the Arkansas Economic Development Commission certifying to the Revenue Division of the Department of Finance and Administration that the taxpayer:
(1) Operates a steel mill in Arkansas which began production after February 16, 1987; and
(2) Has invested, after February 16, 1987, in excess of one hundred twenty million dollars ($120,000,000) in the steel mill, which investment expenditure is for one (1) of the following:
(A) Property purchased for use in the construction of a building or buildings or any addition or improvement thereon to house the steel mill;
(B) Machinery and equipment to be located in or in connection with the steel mill. Motor vehicles of a type subject to registration shall not be considered as machinery and equipment; or
(C) Project planning costs or construction labor costs, including on-site direct labor and supervision, whether employed by a contractor or the project owner; architectural fees, engineering fees, or both; right-of-way purchases; utility extensions; site preparation; parking lots; disposal or containment systems; water and sewer treatment systems; rail spurs; streets and roads; purchase of mineral rights; land; buildings; building renovation; production, processing, and testing equipment; freight charges; building demolition; material handling equipment; drainage systems; water tanks and reservoirs; storage facilities; equipment rental; contractor's cost plus fees; builders risk insurance; original spare parts; job administrative expenses; office furnishings and equipment; rolling stock; capitalized start-up costs as recognized by generally accepted
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-1202
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:26-51-1202
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 42f616a8abb6b0902f612a0991d317ad6c37b0d50ea18e4f48624e11a1ef509f
Source location: content.xml paragraph 15451
Stored source content
26-51-1202. Certification required.
(a) To claim the benefits of this section, § 26-51-1201, and § 26-51-1203, a taxpayer must obtain a certification from the Director of the Arkansas Economic Development Commission certifying to the Revenue Division of the Department of Finance and Administration that the taxpayer:
(1) Operates a steel mill in Arkansas which began production after February 16, 1987; and
(2) Has invested, after February 16, 1987, in excess of one hundred twenty million dollars ($120,000,000) in the steel mill, which investment expenditure is for one (1) of the following:
(A) Property purchased for use in the construction of a building or buildings or any addition or improvement thereon to house the steel mill;
(B) Machinery and equipment to be located in or in connection with the steel mill. Motor vehicles of a type subject to registration shall not be considered as machinery and equipment; or
(C) Project planning costs or construction labor costs, including on-site direct labor and supervision, whether employed by a contractor or the project owner; architectural fees, engineering fees, or both; right-of-way purchases; utility extensions; site preparation; parking lots; disposal or containment systems; water and sewer treatment systems; rail spurs; streets and roads; purchase of mineral rights; land; buildings; building renovation; production, processing, and testing equipment; freight charges; building demolition; material handling equipment; drainage systems; water tanks and reservoirs; storage facilities; equipment rental; contractor's cost plus fees; builders risk insurance; original spare parts; job administrative expenses; office furnishings and equipment; rolling stock; capitalized start-up costs as recognized by generally accepted accounting principles; and other costs related to the construction.
(b) As used in subdivision (a)(2)(C) of this section, “production and processing equipment” includes machinery and equipment essential for the receiving, storing, processing, and testing of raw materials and the production, storage, testing, and shipping of finished products, including facilities for the production of steam, electricity, chemicals, and other materials that are essential to the manufacturing process, but which are consumed in the manufacturing process and do not become essential components of the finished product.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-1201. Definition.
As used in this section, § 26-51-1202, and § 26-51-1203, “invested” includes expenditures made from the proceeds of bonds, including interim notes or other evidence of indebtedness, issued by a municipality, county, or an agency or instrumentality of a municipality, county, or the State of Arkansas, if the obligation to repay the bonds, including interest on the bonds, is a legal, binding obligation, directly or indirectly, of the taxpayer.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-1201
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. The source passage cites 26-51-1201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-1203. Net operating loss deduction — Carry forward.
(a) Taxpayers qualified under § 26-51-1202(a) and (b), entitled to a net operating loss deduction as provided in § 26-51-427, may carry forward that deduction to the next succeeding taxable year following the year of the net operating loss and annually thereafter for a total period of ten (10) years or until the net operating loss has been exhausted, whichever is earlier.
(b) The net operating loss deduction must be carried forward in the order named above.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-1203
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. The source passage cites 26-51-1203. This identifies an authority to review, not proof of applicability.