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26-52-207. Discontinuance of business — Unpaid taxes.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-52-207. Discontinuance of business — Unpaid taxes.
(a)(1) Any taxpayer operating under a permit as provided in this subchapter, upon discontinuance of business by sale or otherwise, shall return the permit to the Secretary of the Department of Finance and Administration for cancellation together with a remittance of any unpaid or accrued taxes.
(2) Failure to surrender a permit and pay any and all accrued taxes shall be sufficient cause for the secretary to refuse the issuance of any permit in the future to the taxpayer to engage in or transact any other business in this state.
(3) In the case of a sale of any business, the tax shall be deemed to be due at the time of the sale of the fixtures and equipment incident to the business and shall constitute a lien against the stock and the fixtures and equipment in the hands of the purchaser thereof or any other third party until the tax is paid.
(b) The secretary shall not issue a permit to continue or conduct the business to the purchaser of the business until all tax claims due in the State of Arkansas under this section have been settled and paid.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-52-207
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:26-52-207
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: b590ea8cbea16ba2e6cb328a2d9569068ba55d6e300bae0e77b1926723c0b222
Source location: content.xml paragraph 17913
Stored source content
26-52-207. Discontinuance of business — Unpaid taxes.
(a)(1) Any taxpayer operating under a permit as provided in this subchapter, upon discontinuance of business by sale or otherwise, shall return the permit to the Secretary of the Department of Finance and Administration for cancellation together with a remittance of any unpaid or accrued taxes.
(2) Failure to surrender a permit and pay any and all accrued taxes shall be sufficient cause for the secretary to refuse the issuance of any permit in the future to the taxpayer to engage in or transact any other business in this state.
(3) In the case of a sale of any business, the tax shall be deemed to be due at the time of the sale of the fixtures and equipment incident to the business and shall constitute a lien against the stock and the fixtures and equipment in the hands of the purchaser thereof or any other third party until the tax is paid.
(b) The secretary shall not issue a permit to continue or conduct the business to the purchaser of the business until all tax claims due in the State of Arkansas under this section have been settled and paid.
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