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Showing posts from December, 2013

The Arkansas Franchise Tax Deadline is Looming.

Every year, the Arkansas Secretary of State requires that franchise taxes be paid by May 31, 2013.  If you fail to pay by this date, then your business entity will be listed as "not current" and will be subject to penalties and taxes until the current year's taxes are paid, or the entity formally dissolves.  If payments are not paid by December 31, 2013, then the entity's charter will be revoked.

Keep in mind that during the previous legislative session, the Arkansas General Assembly passed Act 1041, allowing the Secretary of State's office to create an amnesty program for franchise taxes and interest.  If the business entity's charter was revoked by the Secretary of State on or before December 31, 2012, you may be eligible to participate by visiting the Secretary of State's website.  If eligible, the entity could avoid having to pay its previous years' interest and taxes.  To check your company's status, follow this link to the Secretary of Stat…