Code of Arkansas Rules Title 26 — Taxation

26 CAR § 260-401

Application for conservation tax credit

Official textcodeofarrules.arkansas.gov17 subsections

# (a)

Applicants must submit a completed conservation application on a form provided by the Department of Agriculture along with the application fee.

# (b)

The application form shall require the following information:

# (1)

Identify taxpayer by name and type of ownership (individual, corporation, partnership, etc.);

# (2)

List of officers, Subchapter S shareholders with percentage of ownership, partners with percentage of ownership, etc.;

# (3)

Federal employer identification number or Social Security numbers for business or individuals to claim credit;

# (4)

Address, telephone, and facsimile numbers of all participating taxpayers;

# (5)

Contact person's name, address, telephone, and facsimile numbers;

# (6)

Record acceptable to the department that demonstrates that the interest conveyed meets the Arkansas Natural Resources Commission’s definition of qualified real property interest;

# (7)

Legal description of qualified real property interest;

# (8)

Qualified appraisal of the property interest;

# (9)

Record acceptable to the department demonstrating that interest conveyed belonged to the donor prior to conveyance;

# (10)

Name and contact information of donee that has accepted the qualified real property interest;

# (11)

A copy of the executed document illustrating that a qualified donee has accepted the property interest;

# (12)

Location of project, including maps and description of site location (e.g., county, section, township, range, latitude, longitude, watershed, etc.);

# (13)

Name of water body or bodies benefited by the donated qualified real property interest, if applicable;

# (14)

Donee’s representation that this donation would qualify as a qualified conservation contribution pursuant to 26 U.S.C. § 170(h); and

# (15)

Additional relevant information may be requested by the Private Wetland and Riparian Zone Creation, Restoration, and Conservation Committee and the department as deemed necessary for a complete review of the proposed donation.

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