Code of Arkansas Rules Title 26 — Taxation
26 CAR § 270-108
Credit determination, maximum, and carryforward
Official textcodeofarrules.arkansas.gov
# (a)
Final determination of the amount of eligible cost and available tax credits will be determined by the Commissioner of Revenues.
# (b)
The amount of the credit that may be used by a taxpayer for a taxable year may not exceed the amount of state, individual, or corporate income tax otherwise due.
# (c)
Any unused credit may be carried over for a maximum of three (3) consecutive tax years following the taxable year for which the credit was certified.
Source: view the official text
In this chapter (19 sections)
- 270-101 · Purpose
- 270-102 · Definitions
- 270-103 · Eligible costs
- 270-104 · Ineligible costs
- 270-105 · Recordkeeping
- 270-106 · Eligible applicants
- 270-107 · Application forms
- 270-108 · Credit determination, maximum, and carryforward
- 270-109 · Apportionment of credit
- 270-110 · Refund of credit
- 270-111 · Limitations on other deductions
- 270-201 · Application process
- 270-202 · Deadlines
- 270-203 · Determination of eligibility
- 270-204 · Informal settlement
- 270-205 · Preliminary approval
- 270-206 · Appeal of director’s decision
- 270-301 · Severability
- 270-302 · Effective date