Arkansas § 26-51-1004 Applicability - Effective date

Arkansas Statutes

§ 26-51-1004 — Applicability - Effective date

Arkansas § 26-51-1004

Title26

This text of Arkansas § 26-51-1004 (Applicability - Effective date) 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. § 26-51-1004 (2026).

Text

(a)The tax credits provided by this subchapter shall apply to taxable years beginning on or after January 1, 1996, and all taxable years thereafter.

(b)Any approved applicant claiming a tax credit under this subchapter may not claim a credit under any similar act for any costs related to the same project.

(c)Any tax credit issued to an approved applicant that is a partnership, a limited liability company taxed as a partnership, a Subchapter S corporation, or a fiduciary shall be passed through to the partners, members, or owners, respectively, on a pro rata basis or pursuant to an executed agreement between or among the partners, members, or owners documenting an alternative method for the distribution of the tax credit.

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(a) The tax credits provided by this subchapter shall apply to taxable years beginning on or after January 1, 1996, and all taxable years thereafter. (b) Any approved applicant claiming a tax credit under this subchapter may not claim a credit under any similar act for any costs related to the same project. (c) Any tax credit issued to an approved applicant that is a partnership, a limited liability company taxed as a partnership, a Subchapter S corporation, or a fiduciary shall be passed through to the partners, members, or owners, respectively, on a pro rata basis or pursuant to an executed agreement between or among the partners, members, or owners documenting an alternative method for the distribution of the tax credit.