§ 26-51-1012 - Deduction for project costs above tax credit. - Arkansas Statutes

26-51-1012. Deduction for project costs above tax credit.

(a) In determining net income for Arkansas income tax purposes, any taxpayer qualifying for the credits provided for in this subchapter shall also be entitled to a deduction in an amount equal to the project cost less the total amount of credits to which the taxpayer is entitled under this subchapter.

(b) The deduction provided for in this subchapter shall be taken only during the year in which the expenditures for the project were actually incurred.