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26-51-2002. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-2002. Definitions.
As used in this subchapter:
(1) “Director” means the Director of the Arkansas Economic Development Commission;
(2) “Eligible business” means any person engaged in a business classified as manufacturing of paper and allied products in Standard Industrial Classification Code 2600 that has been in continuous operation in Arkansas for at least two (2) years prior to the initial application to the director for income tax credits under the provision of this subchapter;
(3) “Modernization” means to increase efficiency or to increase productivity of the business through investment in machinery or equipment, or both, and shall not include costs for routine maintenance;
(4) “Person” means a person as defined by § 26-18-104;
(5) “Project” means any construction, expansion, or modernization in Arkansas by an eligible business whose investment shall exceed one hundred million dollars ($100,000,000) between August 13, 2001, and December 31, 2004, for projects involving either single or multiple locations within the State of Arkansas, including the cost of the land, buildings, and equipment used in the construction, expansion, or modernization and which construction, expansion, or modernization has been approved by the Arkansas Economic Development Commission as a construction, expansion, or modernization project that qualifies for the credit under the provisions of this subchapter; and
(6) “Routine maintenance” means the replacement of existing machinery parts with like parts.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-2002
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:26-51-2002
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7f2b129321d5f5ec5d02d2e58ee314a5d7bc56981e34c84c495dcf63201be9f6
Source location: content.xml paragraph 16605
Stored source content
26-51-2002. Definitions.
As used in this subchapter:
(1) “Director” means the Director of the Arkansas Economic Development Commission;
(2) “Eligible business” means any person engaged in a business classified as manufacturing of paper and allied products in Standard Industrial Classification Code 2600 that has been in continuous operation in Arkansas for at least two (2) years prior to the initial application to the director for income tax credits under the provision of this subchapter;
(3) “Modernization” means to increase efficiency or to increase productivity of the business through investment in machinery or equipment, or both, and shall not include costs for routine maintenance;
(4) “Person” means a person as defined by § 26-18-104;
(5) “Project” means any construction, expansion, or modernization in Arkansas by an eligible business whose investment shall exceed one hundred million dollars ($100,000,000) between August 13, 2001, and December 31, 2004, for projects involving either single or multiple locations within the State of Arkansas, including the cost of the land, buildings, and equipment used in the construction, expansion, or modernization and which construction, expansion, or modernization has been approved by the Arkansas Economic Development Commission as a construction, expansion, or modernization project that qualifies for the credit under the provisions of this subchapter; and
(6) “Routine maintenance” means the replacement of existing machinery parts with like parts.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-18-104. Definitions.
As used in this chapter:
(1) “Assessment” means the determination and imposition of the amount of any state tax due and owing, whether made on a return filed by a taxpayer or by the Secretary of the Department of Finance and Administration on audit or otherwise;
(2) “Corporation” means an organization, other than a partnership, defined as follows:
(A) Created or organized under the laws of Arkansas; or
(B) Qualified to do or doing business in Arkansas, whether or not for profit, in a corporate or organized capacity, by virtue of creation or organization under the laws of the United States or some state, territory, district, or of a foreign country;
(C) Associations, joint-stock companies, insurance companies, including surety and bond companies;
(D) Unless otherwise expressly stated, common law or statutory trusts;
(E) All other business organizations or entities which are organized for profit when the business is conducted by a trustee, or when the interest or ownership in the business is evidenced by a certificate, declaration of trust, or other written instrument; and
(F) National banking associations, state banks, and trust companies, state or national savings and loan associations, or building and loan associations;
(3) “Decision of the secretary” means any order, ruling, finding, regulation, or action taken by the secretary in the administration and enforcement of any state tax law;
(4) “Erroneously paid refund” means a refund of tax received by a taxpayer that was not entitled to receive the refund;
(5) “Excise tax” means any state tax other than an individual, corporate, or fiduciary income tax;
(6) “Fiduciary” means a guardian, trustee, executor, administrator, receiver, conservator, or any other person, whether
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-18-104
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 26-18-104. This identifies an authority to review, not proof of applicability.