Arkansas Administrative Code
Agency 006 - Department of Finance and Administration
Division 05 - Division of Revenues
1998-1 - Comprehensive Corporation Income Tax Regulations
Rule 15-4-1224 - COUNTY AND REGIONAL INDUSTRIAL DEVELOPMENT CORPORATION ACT
2.15-4-1224 - Gain or Loss Upon Sale or Disposition of Common Stock
Universal Citation: AR Admin Rules 2.15-4-1224
Current through Register Vol. 49, No. 9, September, 2024
The basis for computation of gain or loss upon the sale of the common stock in a County or Regional Industrial Development Corporation shall be reduced by the amount of the income tax credits previously deducted. The basis shall be further reduced by ten percent (10%) of the original purchase price if the stock is disposed of within five years (5) of its original purchase date.
Example:
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