Title 26, Taxation

If good cause be shown for setting aside the settlement, the county court may reexamine, settle, and adjust it according to law and may remit any penalty that may have been imposed.

The amount or balance of every account settled and due to the county shall be a lien from the date of the settlement of the account on the real estate and personal property of the delinquent officer situated in the county wherein each delinquent lives.

When any balance shall be found against any county clerk, county sheriff, county collector, county coroner, constable, or other officer for moneys accruing to the county treasury and it shall not be paid within the time prescribed by law, it shall be lawful for the county court, …

(a) (1) The county court has the duty to reconsider and adjust the settlement of any county officer made with the county court, including, but not limited to, the final tax settlement and distribution for any error discovered within three (3) years from the date of the settlement…

Before any settlement shall be reexamined, it shall be the duty of the county court to give the officer ten (10) days' notice of the time and place where the settlement will be adjusted.

Any county collector who shall fail to file with the county clerk a full and complete list of all delinquent personal taxes on the day required by law shall be guilty of a violation punishable by a fine of one hundred dollars ($100) or removal from office.

Any county clerk or other county officer designated pursuant to § 26-28-102(a) who fails to set up the settlement of the county collector setting forth the amount due the various funds on or before the fourth Monday of December of each year upon conviction is guilty of a violatio…

(a) All county collectors' settlements shall be made and filed with the county courts on or before the fourth Monday of December each year. (b) (1) It is the duty of the county courts to pass upon the settlements of the county collectors and to approve, reject, or restate them on…

(a) If the tax settlement shall be found to be correct, the county court shall order the tax settlement spread in full upon the records of the county court. (b) (1) The county clerk or other county officer designated pursuant to § 26-28-102(a) shall certify to the Auditor of Stat…

After the tax settlement made with the county collector by the county clerk or other county officer designated pursuant to § 26-28-102(a) has been examined and acted upon by the county court, as provided in § 26-39-402, the county collector shall make settlement with the county a…

All taxes collected and arising under any law of this state shall be distributed by the Auditor of State if in possession of state authority or if in possession of county authority by the county clerk or other county officer designated pursuant to § 26-28-102(a) to the several fu…

(a) Every county collector of the county revenue, having made settlement according to law of the county revenue received and collected by him or her, shall pay the amount found due from him or her into the county treasury, and the county treasurer shall give duplicate receipts th…

(1) If any county collector and others bound by law to pay money directly into the State Treasury shall fail to pay the amount so found due into the State Treasury and produce the Treasurer of State's receipt to the Auditor of State therefor within fifteen (15) days after the set…

(a) As used in §§ 26-26-1501 — 26-26-1504, 26-51-303, 26-51-407, 26-51-408, 26-52-305, and 26-53-110, unless the context otherwise requires:(1) “Business corporation” means a corporation incorporated under the Arkansas Business Corporation Act, § 4-26-101 et seq.;(2) “Financial i…

(a) (1) It shall be the duty of all persons, firms, and corporations, and all business establishments of every kind engaged in the wholesale business of selling merchandise in this state to furnish, upon the request in writing of the Secretary of the Department of Finance and Adm…

(a) Before each regular session of the General Assembly, the Secretary of the Department of Finance and Administration shall report to the Legislative Council and the Governor on the effect of each exemption, discount, credit, and deduction relating to state income tax and state …

This subchapter shall be known as the “Water Resource Conservation and Development Incentives Act”.

(a) The State of Arkansas is blessed with abundant rainfall and other surface and underground water resources which, when managed conjunctively, can provide a continuous high quality water supply to meet the foreseeable needs of the entire state. (b) Existing water use patterns a…

(1) As used in this subchapter:(1) “Acre-foot” means the volumetric measure equal to forty-three thousand five hundred sixty cubic feet (43,560 cu. ft.) or approximately three hundred twenty-five thousand nine hundred gallons (325,900 gals.);(2) “Application” means a written requ…

(a) The tax credits provided by this subchapter shall apply to taxable years beginning on or after January 1, 1996, and all taxable years thereafter. (b) Any approved applicant claiming a tax credit under this subchapter may not claim a credit under any similar act for any costs …

(a) There shall be allowed a credit against the tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., to an approved applicant that constructs and installs or restores water impoundments or water control structures of twenty (20) acre-feet or more designed for the purpo…

(a) For projects located outside critical groundwater areas, there shall be allowed a credit against the tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., to an approved applicant for the reduction of groundwater use by substitution of surface water for water used f…

(a) For projects located within critical groundwater areas, counties contiguous to counties with areas designated as critical ground water areas, and Chicot County, there shall be allowed a credit against the tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., to an a…

(a) There shall be allowed a credit against the tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., to an approved applicant for agricultural land leveling to conserve irrigation water. (b) (1) The tax credit allowed to each approved applicant shall not exceed the les…

This act shall be known and may be cited as the “Income Tax Act of 1929”.

(a) (1) The Arkansas Natural Resources Commission shall promulgate such rules as may be deemed necessary in administering projects submitted with the intent of qualifying for the tax incentives provided for in this subchapter.(2) The rules shall not be adopted without the approva…

(a) Project activities shall meet or exceed those standards as established by the Arkansas Natural Resources Commission, and the project must be maintained for a minimum life of ten (10) years after issuance of a certificate of completion. (b) Project costs incurred after issuanc…

(a) In determining net income for Arkansas income tax purposes, any approved applicant qualifying for the tax credits provided in this subchapter is also entitled to a deduction in an amount equal to the project cost less the total amount of tax credits to which the approved appl…

(a) The Department of Finance and Administration shall compile the total amount of tax credits used pursuant to the provisions of this subchapter for each calendar year. (b) (1) When the total amount of tax credits used pursuant to the provisions of this subchapter exceeds twenty…

No part or segment of this subchapter shall be interpreted to in any way alter or amend the permit requirements, reporting requirements, allocation procedures, or other requirements set forth in Title 15, Chapter 22.

(a) The income tax credits allowed under this subchapter may be transferred. (b) A transferee from an original approved applicant under this subchapter is entitled to an income tax credit under this subchapter only to the extent the income tax credit is still available to and has…

(1) As used in this chapter, unless the context otherwise requires:(1) “Corporation” includes joint-stock companies or associations and insurance companies;(2) “Domestic”, when applied to any corporation or association, including a partnership, means created or organized in the S…

No caption of any section or set of sections shall in any way affect the interpretation of the Income Tax Act of 1929, § 26-51-101 et seq., or any part thereof.

The Secretary of the Department of Finance and Administration shall administer and enforce the tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq.

(a) The Secretary of the Department of Finance and Administration, with the approval of the Governor, may appoint and remove a person to be known as the “Income Tax Director” who, under the Secretary of the Department of Finance and Administration's supervision, shall have the di…

The Secretary of the Department of Finance and Administration shall prepare and publish annually statistics reasonably available, with respect to the operation of the Income Tax Act of 1929, § 26-51-101 et seq., including amounts collected, classifications of taxpayers, income, e…

(a) All taxes, interest, penalties, and costs collected under the provisions of the Income Tax Act of 1929, § 26-51-101 et seq., shall be general revenues and shall be deposited into the State Treasury to the credit of the State Apportionment Fund. (b) The Treasurer of State, on …

(1) As used in this subchapter:(1) “Accredited institution of higher education” means a four-year public college or university that offers bachelor's degrees and is recognized by the Division of Higher Education for credit;(2) “Cost” means:(A) In the case of a donation or sale be…

(a) (1) There is granted a credit against a taxpayer's Arkansas corporate income tax or Arkansas individual income tax for the following types of donations or sales, or both, of new machinery and equipment to a qualified educational institution in connection with a qualified educ…

(a) Total credits for qualified research expenditures, donations, and sales under this subchapter shall be allowed up to one hundred percent (100%) of the net tax liability of the taxpayer after all other credits and reductions in tax have been calculated. (b) The credit shall be…

(a) To claim the credit granted by § 26-51-1102, the taxpayer shall provide the following for each piece of machinery and equipment donated, sold below cost, or purchased by a qualified educational institution with a cash donation:(1) An affidavit from the receiving qualified edu…

The Secretary of the Department of Finance and Administration, the Commissioner of the Division of Higher Education, the Director of the Division of Career and Technical Education, the Secretary of the Department of Education, and the Director of the Arkansas Economic Development…

(a) To apply for a credit under this subchapter, a taxpayer shall submit an original application and one (1) copy to the Director of the Arkansas Economic Development Commission on the forms prescribed by the director. (b) The director shall review each application submitted unde…

As used in this section, § 26-51-1202, and § 26-51-1203, “invested” includes expenditures made from the proceeds of bonds, including interim notes or other evidence of indebtedness, issued by a municipality, county, or an agency or instrumentality of a municipality, county, or th…

(a) To claim the benefits of this section, § 26-51-1201, and § 26-51-1203, a taxpayer must obtain a certification from the Director of the Arkansas Economic Development Commission certifying to the Revenue Division of the Department of Finance and Administration that the taxpayer…

(a) Taxpayers qualified under § 26-51-1202(a) and (b), entitled to a net operating loss deduction as provided in § 26-51-427, may carry forward that deduction to the next succeeding taxable year following the year of the net operating loss and annually thereafter for a total peri…