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Will I be assessed late fees if I don't file an Arkansas Franchise Tax or Annual Report? The state will charge your Arkansas LLC or corporation (with and without stock) a $25 late fee.
All Arkansas LLCs need to pay $150 per year for the Annual Franchise Tax. These state fees are paid to the Secretary of State. Other than the Annual Franchise Tax Reports fee, there are no other state-required annual Arkansas LLC fees.
Benefits of Forming an LLC in Arkansas Avoiding double taxation because the LLC is not taxed separately. Simpler tax reporting because all the profits and losses are ?passed through? to the owner(s) or members of the LLC, making it easier to comply with tax liabilities.
All LLCs operating in Arkansas must file an annual report and pay a flat-rate tax of $150 each year. The $150 tax and the annual report together are known as the Annual LLC Franchise Tax Report.
Arkansas LLC Annual Franchise Tax Report Fee ($150/year) The Arkansas LLC Annual Franchise Tax costs $150 per year. This fee is paid every year for the life of your LLC.
Arkansas does not legally require an operating agreement for an LLC, but it makes sense to have one in place if your LLC has more than one member. This agreement details the ownership and procedures of the business. These are recognized as legally binding governing documents by the state.
In the state of Arkansas, every business entity is required to complete an annual report filing. Arkansas requires that you file by May 1st of each year, otherwise you may fall into noncompliance and face fees and penalties.