Arkansas R&D Tax Credit Summary

R&D Tax Credit Available

Yes

STATE

Arkansas

NAME

In-House Research Income Tax Credit

DOES IT APPLY TO C-CORPS & PASS THROUGHS?

This credit is available to C Corporations, S Corporations, LLCs, and Partnerships

DESCRIPTION

Nonrefundable credit with similar definition to federal for Qualified Research Expenses and Qualified Research Activities, except only include Arkansas-based expenses. Credit is incremental.

PERCENTAGE

20% (33% for Targeted Business) on incremental expenses over base amount. The base amount is the prior year’s QREs.