LITTLE ROCK, Ark.— Arkansas Secretary of State Mark Martin reminds Arkansas businesses they have until Monday, May 2, at midnight to file annual reports and pay franchise taxes to the Secretary of State’s Business and Commercial Services (BCS) Division.
“Our staff has done an outstanding job over the last several weeks to process the more than 62,000 filings for corporations doing business in Arkansas,” Secretary Martin said. “We will have extra people on duty to handle the large volume right up until the last minute.”
To date this year, the SOS office has received 62,066 franchise tax filings by way of mail, online, and lockbox. Filing online at www.sos.arkansas.gov is encouraged for the following reasons:
• Immediate confirmation of filing
• View images of previous online filings
• Credit cards and electronic checks are accepted
• View transaction history
• Live help and customer service
• Available 24 hours a day / 7 days a week
• View images of previous online filings
• Credit cards and electronic checks are accepted
• View transaction history
• Live help and customer service
• Available 24 hours a day / 7 days a week
Corporations can also pay in person at BCS located in the Victory Building in Little Rock at 1401 W. Capitol, Suite 250, or by mailing their tax forms to the following address: P.O. Box 8014, Little Rock, AR 72203-8014. BCS is open from 8 a.m. to 5 p.m. Monday through Friday. For additional information, call BCS at (888) 233-0325.
There are 145,626 corporations registered in Arkansas, and most pay the minimum franchise tax rate of $150. The taxes are payable between January and May 1 annually. Because this year’s deadline falls on a weekend, the deadline is extended to the next business day.
Act 94 of the Second Extraordinary Session of 2003 increased franchise tax rates and required all funds collected over $8 million to be deposited into an Educational Adequacy Trust Fund.
The corporate taxes have generated the following amounts since 2005:
• 2005 – $18.5 million
• 2006 – $19.6 million
• 2007 – $20.5 million
• 2008 – $20.7 million
• 2009 – $22.3 million
• 2010 – $24 million
• 2005 – $18.5 million
• 2006 – $19.6 million
• 2007 – $20.5 million
• 2008 – $20.7 million
• 2009 – $22.3 million
• 2010 – $24 million
