Arkansas Franchise Comparison Worksheet
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How to fill out Franchise Comparison Worksheet?
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FAQ
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 Franchise taxes continue to accrue, even for revoked businesses, until the business is dissolved, withdrawn, or merged.
Visit . Enter your File number and Federal Tax ID number, click ?Show Available Filings,? then follow the instructions.
A franchise tax is a state tax imposed on businesses or for-profit corporations doing business in the state. Because the primary purpose of a franchise tax is to raise revenue for the state, a franchise tax is distinct from federal taxes, such as income or excise tax.
Corporations pay franchise tax if they meet any of the following: Incorporated or organized in California. Qualified or registered to do business in California. Doing business in California, whether or not incorporated, organized, qualified, or registered under California law.
The term franchise tax refers to a tax paid by certain enterprises that want to do business in some states. Also called a privilege tax, it gives the business the right to be chartered and/or to operate within that state.
