Form Ld-T - Annual Report Of Premiums,taxes And Fees Of Foreign Life And Accident And Health Insurance Companies - 2011 Page 4
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9Line 14 - Capitol Development Corporation Tax Credit § 15-4-1026,15-4-1029(f)(1) Person who purchases an equity
interest in a capital development company between 2004 through 2013 is entitled to a credit against any state
income tax liability or premium tax liability, which may be imposed on the purchaser for any tax year
commencing with the tax year, which is two years after the date of the purchase. The credit shall be equal to
thirty-three and one-third (33 1/3) of the actual purchase price paid for the equity interest to the company,
including any fees or commissions to underwriters or sales agents paid by the company. No fees or
commissions in excess of fifteen percent (15%) of the total purchase price may be considered in calculating the
amount of the credit. In any one-tax year, the credit shall not exceed fifty percent (50%) of the net state
income tax liability or premium tax liability of the taxpayer after all other credits or reductions in tax have been
calculated. No credit under this section is allowed for any tax year after December 31, 2019.
Upon dissolution, if the proceeds from the purchase of the equity interest have not been used for the purposes
stated in §15-4-1016 or for operation expenses, then each person who previously claimed a tax credit with
respect to that purchase, the tax imposed for the year the dissolution occurs shall be increased by the tax credit
amount associated with the unused purchase proceeds.
Line 15 - Coal Mining Enterprise Credit § 26-51-511 – Coal mining enterprises or eligible transferees are eligible for a
tax credit if the coal was sold to an electric generation plant for less than $40.00 per ton excluding freight
charges.
Line 16 - Equity Investment Incentive Tax Credit § 15-4-3301, et seq. Insurers are allowed a state income or
premium tax credit for certain qualified equity investments up to 50% of net income or premium tax liability.
The certified statement of the insurer, described in § 15-4-3305, and a tax credit certificate issued by the
Arkansas Economic Development Commission must be submitted with the premium tax return.
Section F
To derive at your Net Payment Due, follow instructions below:
Line 17 - Total Premium Tax Due - Enter the amount from above in Sect E, Line 13 less credit on Line 14-16, if any.
Line 18 - Enter the amount of Total Fees from Page 1, Sect B, Col 1or Col 2, Line 4c. Remember to base your fees on
your choice in Section D- Arkansas / State of Domicile side. Enter the chosen column’s fee amount here.
DO NOT LEAVE BLANK.
Line 19 - Add the amounts listed on Lines 19a through c and enter result here. Fill in appropriate columns with pre-
st
nd
rd
payment information for 1
, 2
and 3
quarter payment, if any. The amount must agree with the
ACTUAL prepayments paid each quarter. DO NOT ROUND AMOUNTS. Do not include penalty fees, only
taxes.
Line 20 - Add Lines 17 through 19 and enter result here. Attach check payable to State Treasurer of Arkansas for the
amount shown on Line 20. All overpayments will be refunded after audit. Be sure to mark “Refund
Due” on the top of Page 1, if you are expecting a refund this year.
Instructions for Page 3 of return
Section G
Life and/or Health Insurers and Health Maintenance Organization Salary Offset §26-57-604
This was formerly known as FORM AID AC IC-PT, it is no longer a separate form but part of LD-T.
This section must be completed in order to take the Salary Credit (Lines 10 a, b), or it will be disallowed.
Each authorized life or accident & health insurer, including an HMO, may take a credit for noncommissioned salaries
and wages of the insurer’s Arkansas employees as an offset against the 2.5% tax on life and /or accident and health
insurance. The offset may not reduce tax due on health premiums by more than 80%, or due on life premiums by more
than 70%. The employee must be a non-commissioned hire and have been employed 6 months for the wages to qualify.
Line 1 – Enter the number of non-commissioned Arkansas employees that were employed for at least 6 months by
your company.
Line 2 – Enter the total of wages and salaries paid to these individuals on this line. Be sure to deduct commissions.
Line 3 – You must list the complete address of all offices in Arkansas. If additional space in needed, please attach a
listing to return.
If addresses are not provided, credits are not allowed.
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