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12/25/2003

State Research & Development Income Tax Credits
by Mildred Holley, Technology Programs Manager

The Arkansas Department of Economic Development has published regulations for the Consolidated Incentive Act enacted earlier this year. One category of credits deals with incentives for research and development. The R&D tax credits range from 10% to 33% of eligible expenditures. They provide incentives for firms contracting with universities for research; businesses that conduct in-house applied research; and "targeted businesses" that carry out in-house research. The regulations define the types of research expenditures that qualify for the tax credits, specify activities that are excluded, and identify the business sectors that are targeted.

Access the Consolidated Incentive Act Regulations at www.1800arkansas.com/Incentives/. Contact ADED (1.800.Arkansas) or the Arkansas Science and Technology Authority (501.683.4400) for guidance if you believe your firm may qualify for R&D income tax credits.

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