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006.05.301-2. DEFINITIONS:

AR ADC 006.05.301-2Arkansas Administrative Code

West's Arkansas Administrative Code
Title 006. Department of Finance and Administration
Division 05. Division of Revenues
Rule 301. 1991-11 Income Tax Credit for Purchase of Recycling Equipment
Ark. Admin. Code 006.05.301-2
006.05.301-2. DEFINITIONS:
Currentness
For the purpose of this regulation, the following definitions shall apply:
(a) Taxable year - means the calendar year or the fiscal year, upon the basis of which the net income is computed under the Arkansas Income Tax Act.
(b) Recycling - means the systematic collection, sorting, decontaminating and returning of waste materials to commerce as commodities for use or exchange.
(c) Waste reduction, reuse or recycling equipment - means machinery and equipment located in Arkansas on the last day of the taxable year, designed to separate, process, modify, convert, or treat solid waste so that the resulting product may be used as a raw material or for productive use. “Waste reduction, reuse or recycling equipment” does not include motor vehicles, buildings, or real property of any kind.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.301-2, AR ADC 006.05.301-2
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