Arkansas

Arkansas Low Income Housing Tax Credit

• Applicable against the Arkansas corporate income tax, insurance premium tax, and personal income tax.
• May offset 100% of corporate income tax liability.
• May offset 100% of premium tax liability.
• Excess credits carryforward up to five years. No carryback.
• Credits are subject to federal recapture.
• The credit is limited to $250,000 in any tax year.
• The credit may be sold or transferred with the approval of the Director of the Department of Finance and Administration.

Arkansas Historic Tax Credit Summary

• Applicable against the Arkansas corporate income tax, individual income tax and insurance premium tax.
• May offset 100% of a taxpayer’s liability.
• Excess credits carry forward for five years. No carry back.
• Credits are subject to a 5-year recapture period.