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26-54-114. Nonpayment of franchise taxes — Definitions. [Effective May 1, 2021.]
Arkansas Code — all titles (historical 2020) · legal_authorities
26-54-114. Nonpayment of franchise taxes — Definitions. [Effective May 1, 2021.]
(a) A corporation or limited liability company is not allowed to file any forms or documentation related to that corporation or limited liability company if the corporation or limited liability company owes past-due franchise taxes to the Department of Finance and Administration.
(b) A person is not allowed to file any initial forms or documentation with the Secretary of State to create any legal entity in the State of Arkansas or to obtain authority to do business in the State of Arkansas if that person is substantially connected to any corporation or limited liability company that owes past-due franchise taxes to the department.
(c) As used in this section:
(1) “Past-due franchise taxes” means only those taxes owed three (3) years prior to the year in which the current filing is presented;
(2) “Past officer or director” means a person who was associated with the corporation or limited liability company during the time that its charter was revoked for nonpayment of franchise taxes; and
(3) “Substantially connected” means a present officer or director or a past officer or director of a corporation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-54-114
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:26-54-114:variant2
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 964f07821510e476999ea1a31fbe646217244e2053d62d588b4f1be9bfceb6e8
Source location: content.xml paragraph 22887
Stored source content
26-54-114. Nonpayment of franchise taxes — Definitions. [Effective May 1, 2021.]
(a) A corporation or limited liability company is not allowed to file any forms or documentation related to that corporation or limited liability company if the corporation or limited liability company owes past-due franchise taxes to the Department of Finance and Administration.
(b) A person is not allowed to file any initial forms or documentation with the Secretary of State to create any legal entity in the State of Arkansas or to obtain authority to do business in the State of Arkansas if that person is substantially connected to any corporation or limited liability company that owes past-due franchise taxes to the department.
(c) As used in this section:
(1) “Past-due franchise taxes” means only those taxes owed three (3) years prior to the year in which the current filing is presented;
(2) “Past officer or director” means a person who was associated with the corporation or limited liability company during the time that its charter was revoked for nonpayment of franchise taxes; and
(3) “Substantially connected” means a present officer or director or a past officer or director of a corporation.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-54-114. Nonpayment of franchise taxes — Definitions. [Effective until May 1, 2021.]
(a) No corporation or limited liability company shall be allowed to file any forms or documentation related to that corporation or limited liability company if the corporation or limited liability company owes past-due franchise taxes to the Secretary of State.
(b) No person shall be allowed to file any initial forms or documentation with the Secretary of State to create any legal entity in the State of Arkansas or to obtain authority to do business in the State of Arkansas if that person is substantially connected to any corporation or limited liability company that owes past-due franchise taxes to the Secretary of State.
(c) As used in this section:
(1) “Past-due franchise taxes” means only those taxes owed three (3) years prior to the year in which the current filing is presented;
(2) “Past officer or director” means a person who was associated with the corporation or limited liability company during the time that its charter was revoked for nonpayment of franchise taxes; and
(3) “Substantially connected” means a present officer or director or a past officer or director of a corporation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-54-114
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. Same stored citation; legal effect and authority still require review.