AR SB1083

Creates a 10% income tax credit against Arkansas income tax for retailers and retail dealers who purchase soft drink syrup, simple syrup, bottled soft drinks, or powder/base products for soft drinks from distributors, manufacturers, or wholesale dealers.

Credit amount claimed in any tax year cannot exceed the taxpayer's income tax liability for that year.

Allows unused income tax credits to be carried forward for five consecutive tax years following the year the credit was earned.

Director of the Department of Finance and Administration may promulgate rules to implement the credit.

Effective for tax years beginning on or after January 1, 2014.