Arkansas Code Title 26. Taxation § 26-57-615. Credit for fees based on volume outside of state

(a) If, by the laws of any state other than Arkansas or by the retaliatory laws of any state other than Arkansas, any insurer domiciled in Arkansas on or after April 6, 1993, shall be required to pay any fee based on the insurer's premium volume in the other state of licensure, and the fee imposed by the other state is due and payable either because the administrative and financial regulatory fee, “financial fee”, based on premium volume assessed by the State Insurance Department Trust Fund Act, § 23-61-701 et seq., as it is popularly known, on insurers licensed in Arkansas and organized or domiciled in the other state is greater than the comparable fee assessed in the other state, or the other state has no comparable fee but requires payment on a retaliatory basis, then to the extent the fee amounts are legally due and are paid in the other state, any insurer domiciled in Arkansas on and after April 6, 1993, may claim a dollar-for-dollar credit for the fees paid against its annual premium taxes due the State of Arkansas under this subchapter, but the credit shall only be calculated on the amount which would not have been required to be paid in the other state of licensure in the absence of the existence of the financial fee assessed under the State Insurance Department Trust Fund Act, § 23-61-701 et seq., and in no event shall the credit permitted by this section exceed ninety percent (90%) of the insurer's annual premium tax due the State of Arkansas.