2015 Arkansas Code
Title 26 - Taxation
Subtitle 5 - State Taxes
Chapter 51 - Income Taxes
Subchapter 19 - Employee Tuition Reimbursement Tax Credit
§ 26-51-1902 - Creation of tax incentive.
(a) There shall be allowed a credit against the income tax imposed by the Income Tax Act of 1929, ยง 26-51-101 et seq., equal to thirty percent (30%) of the cost of tuition reimbursed or paid by an employer on behalf of a full-time, permanent employee for the cost of tuition, books, and fees for a program of undergraduate or postgraduate education from an accredited institution of postsecondary education located in Arkansas.
(b) In order to qualify for the income tax credit, the employer shall document that the employee has successfully completed the course.
(c) The incentive authorized by this section shall not exceed twenty-five percent (25%) of a business's income tax liability in any year.
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