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006.05.202-9. Enterprise Zone Business Must File State Income Tax Returns

AR ADC 006.05.202-9Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 05. Division of Revenues
Rule 202. 1989-1 Gross Receipts and Use Tax/Enterprise Zones
Ark. Admin. Code 006.05.202-9
006.05.202-9. Enterprise Zone Business Must File State Income Tax Returns
An enterprise zone business qualifying for the $2,000.00 tax credit per net new employee employed in the business located in the enterprise zone shall file the same required forms and returns with the Department to Finance and Administration, Revenue Division, as would be required if no credit were due. Each yearly return will have attached a copy of a letter of authorization from the Revenue Division of the Department of Finance and Administration, and other forms which the Revenue Division may require. If total tax credits are less than the total taxes, remittance in the amount of the difference must be enclosed with the return. The tax credit shall be used for the taxable year in which the increases in average annual year employment occurred. If the entire credit cannot be used in the year earned, the remainder may be applied against the income tax for the succeeding two years or until the entire credit is used, which occurs first.
Current with amendments received through August 15, 2023. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.202-9, AR ADC 006.05.202-9
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