26-54-105. Franchise tax reports. [Effective May 1, 2021.]

26-54-105. Franchise tax reports. [Effective May 1, 2021.] (a)(1) The Department of Finance and Administration shall furnish report forms to each corporation subject to this chapter by mailing them to the corporation's current agent for service or other person identified by the corporation. (2) When filing the franchise tax report, a corporation may state who is to receive a franchise tax form the following year if that person is different from the agent for service on file for the corporation at that time. (b) A corporation that fails to receive the report forms by March 20 of the reporting year shall make written request for them to the department on or before March 31. (c)(1) Each corporation subject to the requirements of this chapter shall file a franchise tax report with the department that shows the condition and status of the corporation as of the close of business on the last day of the corporation's preceding fiscal year and other information required by the department. (2)(A) The franchise tax as computed on the report shall be remitted with the franchise tax report and submitted to the department with the corporation's income tax return. (B) For a corporation that is not required to submit an income tax return, the franchise tax as computed on the report shall be remitted with the franchise tax report on or before May 1 of the reporting year for franchise tax due. (d)(1) Every corporation that dissolves shall be required to pay at the time of dissolution the franchise tax for the prior calendar year and pay at the time of dissolution the minimum franchise tax for the year in which dissolved or withdrawn. (2) Any newly formed corporation shall not be required to file a franchise tax report until the calendar year immediately following the calendar year of incorporation. (e)(1) When the par value of the shares of a corporation is required to be stated in any franchise tax report and the shares of the corporation are without par value, the number of shares shall be stated. (2) For the purpose of computing the franchise tax prescribed by this chapter, shares of no par value shall be considered to be of the par value of twenty-five dollars ($25.00) per share. (f) Each corporation which pays its tax computed by the full assessment of capital stock or property shall not be required to report the value of its real and personal property within or without this state. (g)(1) Every franchise tax report shall contain the following statement: “I declare, under the penalties of perjury, that the foregoing statements are true to the best of my knowledge and belief.” (2) The statement shall be signed by the president, vice president, secretary, treasurer, or controller of the corporation or other authorized person. (h)(1) All information contained in a franchise tax report shall be confidential and not available for public inspection, except for the following: (A) The name and address of the corporation; (B) The name of the corporation's president, vice president, secretary, treasurer, and controller; (C) The total authorized capital stock with par value; (D) The total issued and outstanding capital stock with par value; and (E) The state of incorporation. (2) In the case of a franchise tax report filed by an organization formed under the Small Business Entity Tax Pass Through Act, § 4-32-101 et seq., the names of members, except those designated in the organizations' franchise tax report as a manager, president, vice president, secretary, treasurer, or controller of the organization, shall be confidential and not available for public inspection unless the organization has no registered agent for service of process.