| State: |
AR |
| Incentive Type: |
Income/Franchise Tax Incentives and Credits |
| Incentive Title: |
Other Tax Credits |
| Description: |
1) TARGETED BUSINESSES: Income tax credit equal to 10% of payroll for up to five years, a transferable income tax credit equal to 33% of eligible R&D costs, and sales/use tax refunds on building materials and equipment.
2) RECYCLING EQUIPMENT TAX CREDIT allows Arkansas taxpayers to receive an income tax credit for the purchase of equipment used exclusively for reduction, reuse, or recycling of solid waste material for commercial purposes The amount of the credit equals 30% of eligible equipment and installation costs. Credits may be carried over a maximum of three years.
|
| Eligibility Requirements: |
1) Start-up companies in emerging sectors less than 5 years old, annual payroll between $200k - $1million, and pay 150 - 180% of current average hourly wage. |
| Geographic Restrictions: |
Statewide |
| Granting Authority: |
State of Arkansas |
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