The State of Arkansas requires most business entities to file an annual report with the Secretary of State. For many, this is combined with an “Annual Franchise Tax Report” which acts as a privilege tax for the opportunity to conduct business in the state.
Why is it important to file? Filing these reports and paying any associated taxes on time is crucial for maintaining your entity’s active status and good standing with the State of Arkansas. Failure to file can lead to severe consequences, including:
Penalties and Interest: Most entities are subject to a $25.00 late penalty plus interest if the report and/or tax is not paid by the due date. The penalty will not exceed twice the original tax owed.
Forfeiture/Revocation: Your entity can lose its legal right to transact business in Arkansas, meaning it cannot sue or defend in an Arkansas court.
Administrative Dissolution/Cancellation: The Secretary of State may administratively dissolve your domestic entity or revoke the authority of your foreign entity.
Loss of Name Protection: Your entity’s name may become available for others to use.
Complex Reinstatement: Reinstatement involves filing all delinquent reports, paying all associated fees and penalties, and can be a more involved process.
Specific Requirements by Entity Type in Arkansas:
For Corporations (For-Profit) & Limited Liability Companies (LLCs) in Arkansas:
Filing Name:Annual Franchise Tax Report
Due Date: Annually by May 1st of each year.
Filing Fee / Tax:
LLCs: A flat fee/tax of $150.00.
Corporations with Outstanding Stock: A minimum of $150.00, or 0.3% of the outstanding capital stock, whichever is greater.
Corporations without Stock (e.g., non-stock for-profits): A flat fee/tax of $300.00.
Note: An additional $5.00 fee may apply for online filings.
Penalties: $25.00 late penalty plus interest.
Important: Arkansas does not grant extensions for filing the Franchise Tax Report.
For Limited Partnerships (LPs), Limited Liability Partnerships (LLPs), and Limited Liability Limited Partnerships (LLLPs) in Arkansas:
Filing Name:Annual Report (for LPs/LLPs/LLLPs)
Due Date:
LLPs: Annually by April 1st of each year.
LPs & LLLPs: Annually by May 1st of each year.
Filing Fee:$15.00.
Penalty: Generally, no late fee for the Annual Report itself for LPs/LLPs/LLLPs, but administrative revocation can occur for failure to file.
For Non-Profit Corporations in Arkansas, please also note the following:
Non-profit organizations in Arkansas have distinct annual compliance requirements:
Annual Report with Secretary of State:
Filing Name:Annual Report for Non-Profit Corporation
Due Date: Annually by August 1st of each year. Reports may be filed as early as January 1st.
Filing Fee:$0.00 (No fee).
Penalty: No late fee for the Annual Report, but persistent failure to file can lead to administrative dissolution.
Information Required: Typically includes the name of the non-profit, state of formation, registered agent information, principal address, and names and addresses of principal officers and board of directors.
If your non-profit solicits charitable contributions in Arkansas (unless exempt), you must register and file an Annual Financial Report (Form CR-03) with the Arkansas Secretary of State, Charitable Organizations Section.
Due Date: Annually within 180 days (6 months) after the close of your organization’s fiscal year. Extensions of 6 months are possible by emailing the Secretary of State’s office.
Filing Fee:$0.00 (No fee) for this report.
Required Attachments: This renewal typically requires a copy of your federal IRS Form 990 series return. Audited financial statements are required if contributions exceed certain thresholds (e.g., $1,000,000).
Federal IRS Form 990 Series: As a federally tax-exempt organization, your non-profit must file an annual information return with the IRS (Form 990, 990-EZ, 990-PF, or 990-N, depending on your gross receipts and assets). This is typically due by the 15th day of the 5th month after your fiscal year ends (e.g., May 15th for a December 31st fiscal year-end).
What information is generally required for these filings? The Arkansas annual filings typically require verification or updating of the following:
Your entity’s legal name and Arkansas Filing Number.
The current mailing address.
The name and physical street address of your Arkansas Registered Agent.
The principal office address.
Your Federal Tax ID Number (EIN).
Nature of Business (NAICS code if applicable).
For Corporations: Names of corporate officers (President, Secretary, Treasurer) and outstanding stock information (for tax calculation).
For LLCs: Indication of whether the LLC is member-managed or manager-managed, and the names of members/managers.
For Partnerships: Names of general partners (for LPs) or current partners (for LLPs/LLLPs).
For Non-Profits: Names and addresses of officers and directors.
How can we assist you? We can assist you with the preparation and filing of your Arkansas Annual Report and Franchise Tax Report (and any applicable non-profit renewals) to ensure they are submitted accurately and on time. Our services for these filings include:
Determining your specific filing requirements and applicable fees.
Gathering the necessary information.
Completing and submitting the report online or via mail.
Arranging payment of the applicable fees/taxes.
Confirming receipt with the Arkansas Secretary of State’s office.
What we need from you: To facilitate these filings, please contact us promptly and provide us with the following information if there have been any changes since your last filing or if we don’t already have it on file:
Any changes to your mailing or principal office address.
Changes in your Registered Agent or Registered Agent’s address in Arkansas.
Changes in officers, directors, members, or partners.
Updated contact information for your entity.
For Corporations: Updated information on outstanding capital stock (if applicable).
For Non-Profits: Details on any changes to your board of directors or charitable solicitation activities, and your gross contributions for the past fiscal year.
Please do not hesitate to contact us at your earliest convenience to discuss your Arkansas compliance obligations. We can help ensure your entity remains in good standing and avoids any potential penalties.
