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133.00.3-3.0. Eligibility.

AR ADC 133.00.3-3.0Arkansas Administrative Code

West's Arkansas Administrative Code
Title 133. Science and Technology Authority
Division 00.
Rule 3. Research and Development Tax Credit Program Rules
Ark. Admin. Code 133.00.3-3.0
133.00.3-3.0. Eligibility.
Currentness
Industries and individuals that qualify for a Research & Development Tax Credit under this program will be those which satisfy the following criteria:
3.1 Expenditures or donations and sales below cost of machinery and equipment must be made to a qualified educational institution for a qualified research program as defined by these rules.
3.2 The taxpayer must provide the following for each piece of machinery or equipment donated or sold below cost:
3.2.1 A statement from the receiving, qualified, educational institution that:
3.2.1.1 It has received the machinery or equipment;
3.2.1.2 The machinery or equipment is “new” machinery or equipment as defined by these rules;
3.2.1.3 It has received the machinery or equipment as a donation or, if it purchased the machinery or equipment below cost, a statement of the amount paid for the machinery or equipment.
3.2.1.4 The machinery or equipment has been donated or sold to the qualified educational institution for use in a qualified research program;
3.2.2 A copy of the invoice from the business' supplier, in the case of a donation or sale below cost by a wholesale or retail business, showing the actual cost of the machinery or equipment; and
3.2.3 A copy of the manufacturer's wholesale price list, in the case of a donation or sale below cost by a manufacturer, showing the lowest price for the machinery or equipment for which credit is claimed.
3.3 In order to claim a tax credit for qualified research expenditures, the taxpayer must provide a statement from the Arkansas Science & Technology Authority that the Arkansas Department of Higher Education and the Arkansas Science & Technology Authority have approved the expenditure as part of a qualified research program.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 133.00.3-3.0, AR ADC 133.00.3-3.0
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