Arkansas § 15-4-3604 Transferability

Arkansas Statutes

§ 15-4-3604 — Transferability

Arkansas § 15-4-3604

Title15

This text of Arkansas § 15-4-3604 (Transferability) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 15-4-3604 (2026).

Text

(a)A tax credit claimed under this subchapter shall not be refundable or saleable on the open market.

(b)(1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders.

(2)An allocation under subdivision (b)(1) of this section:

(A)May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter.

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(a) A tax credit claimed under this subchapter shall not be refundable or saleable on the open market. (b) (1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders. (2) An allocation under subdivision (b)(1) of this section: (A) May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter.