Arkansas § 26-51-1012 Deduction for project costs above tax credit

Arkansas Statutes

§ 26-51-1012 — Deduction for project costs above tax credit

Arkansas § 26-51-1012

Title26

This text of Arkansas § 26-51-1012 (Deduction for project costs above tax credit) 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. § 26-51-1012 (2026).

Text

(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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(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.