Arkansas § 26-51-1902 Creation of tax incentive

Arkansas Statutes

§ 26-51-1902 — Creation of tax incentive

Arkansas § 26-51-1902

Title26

This text of Arkansas § 26-51-1902 (Creation of tax incentive) 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. § 26-51-1902 (2026).

Text

(a)There shall be allowed a credit against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., equal to thirty percent (30%) of the cost of tuition reimbursed or paid by an employer on behalf of a full-time, permanent employee for the cost of tuition, books, and fees for a program of undergraduate or postgraduate education from an accredited institution of postsecondary education located in Arkansas.

(b)In order to qualify for the income tax credit, the employer shall document that the employee has successfully completed the course.

(c)The incentive authorized by this section shall not exceed twenty-five percent (25%) of a business's income tax liability in any year.

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(a) There shall be allowed a credit against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., equal to thirty percent (30%) of the cost of tuition reimbursed or paid by an employer on behalf of a full-time, permanent employee for the cost of tuition, books, and fees for a program of undergraduate or postgraduate education from an accredited institution of postsecondary education located in Arkansas. (b) In order to qualify for the income tax credit, the employer shall document that the employee has successfully completed the course. (c) The incentive authorized by this section shall not exceed twenty-five percent (25%) of a business's income tax liability in any year.