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While an Arkansas seller's permit is necessary to collect sales tax on retail transactions, a resale certificate allows a business to purchase items on a tax-free basis if these goods are intended to be resold later.
Arkansas Business License and Permit Requirements As a business owner, it's your responsibility to make sure you have the proper state, federal or local business licenses to operate your Arkansas LLC. Some of the associated fees only need to be paid once, while others are ongoing charges.
SALES AND USE TAX A completed application for a sales tax permit and a fifty dollar ($50) non- refundable fee is required to register new businesses. It will take approximately eight to ten working days to process the application.
Changing Your Company Name When changing its name, company must get an approval from the state BEFORE officially using the new name. A corporation or LLC name is changed by filing an amendment to the Articles of Incorporation or Organization (Article of Amendment).
Texas has one form for all domestic for-profit businesses. Fill out and file in duplicate Form 424, Certificate of Amendment. You can file it in person, by mail or online at Texas SOSDirect for $1 log in fee. You also can fax your amendment with form 807 with your credit card information.
(Small Businesses) 1. The business must be registered with the Arkansas Secretary of State. 2. The business must elect Subchapter S treatment for federal income tax purposes by filing an Election by Small Business (Form 2553) with the IRS.
Two Ways to Start A New Business in Arkansas Define your business concept. Draft a business plan. Choose a business name. Fund your startup costs. Choose a business structure. Register your business with the Arkansas Secretary of State. Get your business licenses. Set up a business bank account.
The Division completes most filings such as articles of incorporation, amendments, mergers or dissolutions within two business days of receipt.