Arkansas Franchise Feasibility Test
Description
How to fill out Franchise Feasibility Test?
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FAQ
Arkansas LLC Franchise Tax is a privilege tax. Meaning, it's a flat-rate tax of $150 per year for the privilege to do business in the state. The purpose of the tax is to generate revenue for the State of Arkansas.
A feasibility study is an assessment of the practicality of a proposed plan or project. A feasibility study analyzes the viability of a project to determine whether the project or venture is likely to succeed.
Arkansas is neither a franchise registration state, business opportunity state, nor a franchise filing state. However, Arkansas does regulate franchise relationships and afford additional protection to franchisees in the state through the Arkansas Franchise Practices Act, Ark. Code ? 4-72-201 et seq. (the Act).
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.
Franchise feasibility studies means a study carried out to find whether a company can be a successful franchisor. The study is conducted on companies ranging from well established concerns to a small operation of one or two units, or simply a concept that bears the characteristics of a successful franchisor.
Who has to pay franchise tax? Usually businesses that are required to register with the state are also required to pay a franchise tax. Businesses owned and operated by one person, or sole proprietors, aren't subject to franchise tax in some states where they aren't required to register the business with the state.
For a corporation incorporated under the laws of the state of Arkansas, the franchise tax is calculated by multiplying the number of outstanding capital shares by the par value (if no par stock, $25 is used) of those shares, then multiplying by 0.0027.
If you don't pay your Arkansas Franchise Tax for three years, your LLC will enter revoked status.
A feasibility study will look at the costs and revenue of a potential franchise model, NOT your existing business model. Franchisees may incur more costs due to royalties, training, or build-out requirements, may experience higher revenue due to name recognition, and enjoy larger margins due to purchasing power.
