Biodiesel Suppliers Tax Credit (Arkansas)
Last modified on April 27, 2011.
Financial Incentive Program
|Name||Biodiesel Suppliers Tax Credit|
|Incentive Type||Corporate Tax Credit|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||5% of facilities and equipment costs|
|Carryover Provisions|| 3-year carry forward
|Start Date|| 1/1/03
|Maximum Incentive|| None
Authorities (Please contact the if there are any file problems.)
|Authority 1:||SB 363 of 2003|
|Date Enacted|| 4/14/03
|Contact Name||Corporate Tax Information|
|Department||Department of Finance & Administration|
|Address||1507 W. 7th St.|
|Place||Little Rock, Arkansas|
|Phone|| (501) 682-4775
The Biodiesel Incentive Act, enacted in April 2003, created a tax credit for biodiesel suppliers and a production incentive for qualified biodiesel producers in Arkansas. Biodiesel suppliers are eligible for a 5% tax credit for the cost of facilities and equipment used directly in the wholesale or retail distribution of biodiesel fuels. The credit may be carried forward for a maximum of three years.
Suppliers must be certified to qualify for this incentive. The credit may not be claimed for any facility or equipment operating on or before a supplier is certified, or for which a tax credit was previously claimed by a supplier for any other tax year.