Loading chat...

AR HB1854

Bill

Official Source

Status

Introduced

3/2/2017

Primary Sponsor

Sarah Capp

Click for details

Origin

House of Representatives

91st General Assembly (2017 Regular)

AI Summary

  • Creates a tax credit equal to 25% of the purchase price of new equipment and materials used directly in growing grapes or producing wine in Arkansas
  • Grape growers and wine producers must apply to the Arkansas Economic Development Commission and report total new equipment and materials purchased during the calendar year
  • The Department of Finance and Administration certifies the amount of tax credit to which each applicant is entitled
  • Unused tax credits may be carried forward for a maximum of 5 consecutive tax years to offset state income tax liability
  • Effective for tax years beginning on and after January 1, 2017

Legislative Description

To Create A Tax Credit For Grape And Wine Producers.

Last Action

Recommended for study in the Interim by Joint Interim Committee on HOUSE RULES

3/28/2017

Full Bill Text

No bill text available