The Manufacturer's Investment Tax Credit Act of 2001 is a program designed to stimulate the expansion and modernization of facilities and equipment of Arkansas companies with a federal Standard Industrial Classification (SIC) Code 26 and engaged in the production of paper and allied products. The incentive provided by this act offers a credit against the income tax liability of the eligible company for making an investment, before December 31, 2004 of more than one hundred million dollars ($100,000,000).
If approved to participate in the Manufacturer's Investment Tax Credit Act of 2001, a company may not receive benefits under Advantage Arkansas (Arkansas Enterprise Zone Act of 1993, as amended) or InvestArk (Economic Investment Tax Credit Act) for the same project.
For additional information contact:
Arkansas Department of Economic Development
Business Development Section
One Capitol Mall
Little Rock, Arkansas 72201
(501) 682-7675
As part of the application, and at least thirty (30) days prior to the start of construction, the company must submit a project plan to the Director of the Department. The project plans shall address the following:
Director
Arkansas Department of Economic Development
One Capitol Mall
Little Rock, AR 72201
Department of Finance & Administration
Tax Credits/Special Refunds Section
P.O. Box 1272
Little Rock, AR 72203-1272
No person or entity may take advantage of the income tax credit benefits of the Manufacturer's Investment Tax Credit Act of 2001 and receive benefits under Advantage Arkansas (Arkansas Enterprise Zone Act of 1993 - ACA § 15-4-1701 et seq.) for the same project. In addition, recipients of benefits from this incentive are precluded from receiving benefits under InvestArk (the Economic Investment Tax Credit Act - ACA 26-52-701 et seq.) for the same project
168.00.01 Ark. Code R. 007