Coal Mining Tax Credit (Arkansas)

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Last modified on February 12, 2015.

EZFeed Policy

Place Arkansas


   
Applies to States or Provinces Arkansas
Name Coal Mining Tax Credit (Arkansas)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive
Affected Technologies Coal with CCS
Active Policy Yes

Implementing Sector State/Province




























Primary Website http://www.dfa.arkansas.gov/offices/exciseTax/TaxCredits/Pages/BusinessIncentivesandTaxCreditPrograms.aspx#9
Applicable Jurisdiction statewide


Last Review 2014-09-15


Information Source http://law.justia.com/codes/arkansas/2010/title-26/subtitle-5/chapter-51/subchapter-5/26-51-511/


Summary

The Coal Mining Tax Credit provides an income or insurance premium tax credit of $2.00 per ton of coal mined, produced or extracted on each ton of coal mined in Arkansas in a tax year. An additional credit of $3.00 per ton will be allowed for each ton of coal mined in Arkansas in excess of 50,000 tons in a tax year. The credit can only be earned if the coal is sold to an electric generation plant for less than $40 per ton excluding freight charges. Any unused credits may be carried forward for the next 5 succeeding tax years or until exhausted, whichever occurs first.



Policy Contact

Contact Name Gene Eagle
Department Department of Finance and Administration
Division Development Finance
Address 900 West Capitol, Suite 310 P.O. Box 8023Little Rock, AR 72203-8023



Phone 501-682-5900


Email gene.eagle@adfa.arkansas.gov

     
Contact Name Bev Lambert
Department Department of Finance and Administration
Division Development Finance Division
Address 900 West Capitol, Suite 310 P.O. Box 8023Little Rock, AR 72203-8023



Phone 501-682-5912


Email ben.lambert@adfa.arkansas.gov


Authorities (Please contact the if there are any file problems.)

Authority 1: Arkansas Code Annotated 26-51-511
Date Effective 2008



















References