20-270 20-270 . . . Executive Incentive Plan under which corporation can award restricted stock and units. Restricted stock consists of common stock of corporation which contains restrictions on transfer and forfeiture in event of termination of employment prior to expiration of time period specified in grant. units are equivalent of corporation's book value per share and are issued and credited on corporation's books to employees on condition that said units must be resold to corporation. Corporation must purchase units at end of 5 year incentive period or upon termination of employment (whichever comes first) for amount equivalent to book value at that time plus dividends declared during incentive period and less book value on date of grant
Arkansas Executive Incentive Plan
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Multi-State
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US-CC-20-270
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Arkansas Section 179 Depreciation Deduction is limited to Net Taxable Income Excluding Section 179 Depreciation Deduction.
Job Creation Income Tax Credit (Advantage Arkansas) ? Act 182 of 2003, as amended, § 15-4-2705. The Advantage Arkansas program provides an Arkansas income tax credit based upon a percentage of the annual payroll paid to the new full-time permanent employees hired as a result of an approved project.
New Arkansas tax cut bill The latest Arkansas tax cut bill signed into law by Gov. Sanders on Sept. 14 further reduces the state's top income tax rate from 4.7% to 4.4%, (This rate was previously reduced from 4.9% in April 2023.)
Arkansas uses all major state and local taxes. After federal transfers, Arkansas's largest sources of per capita revenue were general sales taxes ($1,872) and charges ($1,383), such as state university tuition and highway tolls.
What are government revenue and spending? Government revenue is the money the state government receives from all the taxes Arkansans pay, voluntary fees Arkansans pay (such as college tuition), and transfers from the federal government.
Arkansas is a major exporter of rice, soybeans, cotton, poultry and feed grains.
The Consolidated Incentive Act 182 of 2003, as amended, provides an income tax credit to an eligible company for creating new jobs after the company has signed a financial incentive agreement with the Arkansas Economic Development Commission.
In Arkansas in fiscal year 2015, 48.6 percent of total tax revenues came from sales taxes and gross receipts. Income taxes accounted for 34.2 percent of total state tax collections. Education accounted for 29.6 percent of state expenditures in fiscal year 2015, while 25.5 percent went to Medicaid.