Arkansas Amends Tax Incentive Act, Provides Corporate HQ Relocation Income Tax Credit

The Arkansas Governor signed a law amending the Consolidated Incentive Act of 2003. The law includes: 1) for investment tax incentives, providing eligibility for an income tax or sales and use tax credit of up to 10 percent of project costs, and providing that the income tax or sales and use tax credits may offset up to 50 percent of a qualified business’s income tax or sales and use tax liability annually; and 2) an income tax credit of up to 50 percent of the payroll for the new full-time permanent employees for an eligible business relocating a corporate headquarters ...