Arkansas Code Title 15. Natural Resources and Economic Development § 15-4-2306. Tax credit

(1) The credit shall be calculated as thirty-three percent (33%) of the taxpayer's contribution;

(2) In any one (1) tax year, the credit allowed by this section shall offset up to one hundred percent (100%) of the net Arkansas state income tax liability of the taxpayer; and

(3) Any credit in excess of the amount allowed by subdivision (b)(2) of this section for any one (1) tax year may be carried forward and applied against any Arkansas state income tax liability for the next-succeeding tax year and annually thereafter for a total period of ten (10) years next succeeding the year in which the credit arose, subject to the provisions of subdivision (b)(2) of this section or until the credit is exhausted, whichever occurs first.