Thanks to the Franchise Tax Amnesty Program, businesses in Arkansas have a one-time opportunity to catch up on past-due taxes without having to pay accrued penalties and interest on up to three years’ payment. The program is only applicable for businesses revoked as of December 31, 2012, and the revoked status must be the result of a failure to pay franchise taxes.
The limited-time program runs from September 1 through December 31, 2013. All current and delinquent franchise taxes must be submitted with the appropriate paperwork and payment in person or by mail. It’s important to note that tax penalties and interest due for the current year are not eligible.
For more information on the program and to access the amnesty forms, click here.