1.26 Ark. Code R. 51-1008
With respect to agricultural or recreational water projects, the income tax credit is limited to nine thousand dollars ($9,000) or the amount of the taxpayer's computed tax liability for the tax year, whichever is the smaller amount. Any unused credit may be carried forward for up to two (2) consecutive tax years following the tax year in which the credit originated.
For industrial or commercial water projects, the income tax credit is limited to thirty thousand dollars ($30,000) or the amount of the taxpayer's computed tax liability for the tax year, whichever is the smaller amount. Any unused credit may be carried forward for up to four (4) consecutive tax years following the tax year in which the credit originated.
The income tax credit set forth in ACA 26-51-1008 shall be available for tax years beginning on or after 08/01/97.
1.26 Ark. Code R. 51-1008