Arkansas Code Title 26. Taxation § 26-51-1801. Small business stock--Capital gains

(1) For qualified small business stock held for a period of five (5) years from the date of the purchase of the stock, fifty percent (50%);

(2) For qualified small business stock held for a period of six (6) years from the purchase of the stock, sixty percent (60%);

(3) For qualified small business stock held for a period of seven (7) years from the purchase of the stock, seventy percent (70%);

(4) For qualified small business stock held for a period of eight (8) years from the purchase of the stock, eighty percent (80%);

(5) For qualified small business stock held for a period of nine (9) years from the purchase of the stock, ninety percent (90%); and

(6) For qualified small business stock held for a period of ten (10) years from the purchase of the stock, one hundred percent (100%).

(1) “Qualified small business” means any domestic corporation whose total capitalization does not exceed one hundred million dollars ($100,000,000) and no more than ten percent (10%) of the firm’s assets are held in the form of real estate during the holding periods set forth in subsection (a) of this section;

(2) “Qualified small business net capital gain” means the net capital gain for the taxable year determined by taking into account only gain or loss from sales or exchanges of qualified small business stock; and

(3) “Qualified small business stock” means stock issued directly by a qualified small business after December 31, 1998.

(1) Obtain a certified statement from the corporation issuing the qualified business stock stating:

(2) Attach a copy of the statement described in subdivision (c)(1) of this section to the income tax return for the year the deduction is claimed.