003.19.2-VII. Sale or Transfer of Credit
AR ADC 003.19.2-VIIArkansas Administrative CodeEffective: June 29, 2020
Effective: June 29, 2020
Ark. Admin. Code 003.19.2-VII
Formerly cited as AR ADC 168.00.10-VII
003.19.2-VII. Sale or Transfer of Credit
The income tax credits earned under this program may be sold upon approval by the Commission. Any sale of tax credits through this program must be fully documented by the Commission and that information will be transmitted to the Department of Finance and Administration.
The purchaser of the tax credits provided by this program shall obtain certification from the Commission and attach the appropriate documentation provided by the Commission to the tax return on which the credit is first claimed.
The tax credit may be sold at any time before the tax credit is exhausted or expires. The original investor earning tax credits under this section may sell its tax credits only one (1) time, in whole or in part, the balance of which shall be used by the original investor within the time frame allowed under this subchapter.
The purchaser of the tax credit shall be subject to the same carry forward provisions of the credits as the original owner of the credits.
Credits
Amended Sept. 21, 2011; Oct. 5, 2015; June 29, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 003.19.2-VII, AR ADC 003.19.2-VII
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