This form allows the shareholders and/or directors to adopt a resolution at a regular or special meeting of the corporation.
Arkansas Corporation - Resolution
Category:
State:
Multi-State
Control #:
US-00479
Format:
Word;
Rich Text
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How to fill out Corporation - Resolution?
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FAQ
What to Include in a Corporate Resolution FormThe date of the resolution.The state in which the corporation is formed and under whose laws it is acting.Signatures of officers designated to sign corporate resolutionsusually the board chairperson or the corporate secretary.Title the document with its purpose.More items...?
For each delinquent Franchise Tax report, Arkansas LLCs are charged a $25 late fee plus 10% interest on the total amount due. The interest continues to accrue, but the total penalty won't be more than twice the original amount you owe.
Arkansas state law requires all Corporations, LLCs, Banks, and Insurance Companies registered in Arkansas to pay an annual franchise tax. Failure to pay can result in the imposition of additional fees, penalties and interest, or even revocation of the authorization to do business.
Resolutions authorize committees to take action on matters that the board voted on. Board resolutions are legal documents that also serve as compliance documents when the board has been asked to prove that the board and/or its shareholders made certain decisions in regard to the company or organization.
A corporate resolution is typically found in the board meeting minutes, although its form and structure can vary.
§ 26-54-101 et al., also known as the Arkansas Corporate Franchise Tax Act of 1979, requires all Corporations, LLC's, Banks, and Insurance Companies registered in Arkansas to pay an annual franchise tax.
Corporate resolution (also known as a board resolution) is a written legal document, issued by the board of directors of a corporation, documenting a binding decision made on behalf of the corporation.
The Certified Corporate Resolution is a document that states that certain officers can act on behalf of the entity: It provides rights to particular officers. One unique rule is that the person that certifies the corporate resolution cannot be the same person that authorizes the transaction request.
Corporate resolutions are formal declarations of major decisions made by a corporate entity. The resolutions are used to determine which corporate officers are legally able to sign contracts, make transfers or assignments, sell or lease real estate, and make other important decisions that bind the corporation.
LLCs also must pay the minimum corporation franchise tax of $150. Partnerships: Income from this entity goes to each individual partner. The partners pay taxes on this amount on federal and state tax returns. Sole proprietorships: Income from the business goes back to the owner, who pays taxes to the state.
