Important End-of-Year Business Notice: AR Secretary of State

*IMPORTANT BUSINESS NOTICE*

from the Arkansas Secretary of State

The Arkansas Tax Reform Act of 2019 transferred the administration and collection of all franchise taxes in the State of Arkansas from the Arkansas Secretary of State (SOS) to the Department of Finance and Administration (DFA). In agreement with the SOS, the DFA will acquire the Arkansas Franchise Tax Section on January 1, 2021 with the first tax report due May 1, 2021 for all corporations as per the Act. For more information, please visit the DFA website at www.dfa.arkansas.gov/franchisetax.

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The SOS Business and Commercial Services Office will be closing at 12:00 noon on December 30th to complete the transfer to DFA and will reopen on January 4, 2021. Any company wanting to dissolve before the end of the year must do so prior to this time. For more information, contact the Business and Commercial Services division at 501-682-3409 or by visiting www.sos.arkansas.gov.

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If you have any questions or if you need assistance with end of the year business transactions, please contact an attorney at CGWG.