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AR
Targeted Business Payroll Program
Provides transferable Arkansas income tax credits to eligible targeted technology businesses based on annual payroll.
About this program
The Targeted Business Payroll Program is a discretionary AEDC incentive for new knowledge-based startup businesses in targeted emerging technology sectors. Eligible targeted businesses may earn transferable income tax credits equal to 10% of payroll for up to five years, capped at $100,000 per year in earned credits.
Eligibility
Eligible applicants are targeted Arkansas businesses in approved emerging technology sectors with qualifying payroll, equity investment, and wage levels; businesses with annual payroll over $1 million are excluded.
Requirements
- Business must be classified by AEDC in one of the targeted emerging technology sectors.
- Business must show proof of an equity investment of at least $250,000.
- Business must pay at least 150% of the lesser of the state or county average hourly wage where located.