1.26 Ark. Code R. 51-509
Youth apprenticeship programs under ACA 26-51-1601 et seq. are certified by the Arkansas Department of Education, Votech Division. Program related income tax credits are then verified and issued by the Department's Tax Credits/Special Refunds Section. The original certificate issued by the Tax Credits Section must be attached to the taxpayer's first year income tax return upon which the credit is being claimed. The credit cannot exceed the amount of income tax due and can be carried forward for up to two (2) consecutive tax years immediately following the tax year in which the credit originated.
ACA 26-51-1601 et seq., enacted in 1997, extends the availability of the credit to youth who do not qualify under ACA 26-51-509. ACA 26-51-1601 et seq. applies to tax years beginning on and after 01/01/98. ACA 26-51-509 applies to tax years beginning on and after 01/01/96. Any registered apprenticeship program under Section 509 must conform to federal regulations in effect on 01/01/95. Allowable credits and carryforward time are the same between ACA 2651-509 and 26-51-1601.
1.26 Ark. Code R. 51-509