Ark. Code Ann. § 15-4-3604
This is the official text of Ark. Code Ann. § 15-4-3604, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Official statutory text
(a) A tax credit claimed under this subchapter shall not be refundable or saleable on the open market. (b) (1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders. (2) An allocation under subdivision (b)(1) of this section: (A) May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter. Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.
(a) A tax credit claimed under this subchapter shall not be refundable or saleable on the open market.
(b) (1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders. (2) An allocation under subdivision (b)(1) of this section: (A) May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter.
(1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders.
(2) An allocation under subdivision (b)(1) of this section: (A) May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter.
(A) May occur after the issuance of a qualified equity investment; and
(B) Is not a sale for purposes of this subchapter.
Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.
(a) A tax credit claimed under this subchapter shall not be refundable or saleable on the open market.
(b) (1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders. (2) An allocation under subdivision (b)(1) of this section: (A) May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter.
(1) A tax credit earned by a corporation, limited liability company, association, partnership, or other business entity may be allocated to the partners, members, or shareholders of the corporation, limited liability company, association, partnership, or other business entity for their direct use in accordance with any agreement among the partners, members, or shareholders.
(2) An allocation under subdivision (b)(1) of this section: (A) May occur after the issuance of a qualified equity investment; and (B) Is not a sale for purposes of this subchapter.
(A) May occur after the issuance of a qualified equity investment; and
(B) Is not a sale for purposes of this subchapter.
Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.
Status: in_force
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