Arkansas Secretary of State Charlie Daniels today reminded Arkansas businesses that annual reports and franchise taxes are due by midnight on Thursday, May 1 to the Secretary of State’s Business and Commercial Services (BCS) Division.
Every incorporated business, whether domestic or foreign, pays an annual fee to do business in Arkansas. Earlier this year, the state’s 112,495 corporations were notified via mail or online about the upcoming deadline. The taxes are payable between January and May 1 annually. Around eighty percent of the state’s corporations pay the minimum franchise tax rate of $150.
Corporations have the option of filing their franchise taxes online, 24 hours a day, by visiting the Secretary of State’s website at www.sos.arkansas.gov. The easy-to-use system provides automatic calculations to eliminate math errors that can slow down processing time. The system generates e-mail confirmations and copies of each completed filing. Credit cards and electronic checks are accepted.
