For instance, Arkansas could involuntarily dissolve your LLC if you fail to pay your LLC’s franchise taxes or any financial penalties within 60 days of the due date, fail to submit your annual … How to Move Your Business to Another State, How to Move Your Business and Change Your Entity Type, Get a Canadian Certificate of Good Standing. How to Register a Business Name in Arkansas, "Providing actionable and accessible guides and tools to help you succeed", Holding a vote with LLC members to dissolve the LLC, Recording the dissolution vote in the LLC’s meeting minutes, Determining the formal date of dissolution, Notifying creditors and settling any business debts. What is the Cost to Form a Nevada Business? Arkansas BCS processes dissolutions within two business days. 250 If your corporation hasn’t issued shares, you need the approval of your Board of Directors to dissolve … Fee:$45 Online fee; $50 Paper fee. 1998 – 2021 Copyright © Northwest Registered Agent, LLC. Become a member for special access to members-only videos, live streams, live chats, behind the scenes, and MORE! State Capitol Apostille, Certified Copy & Certificate of Good Standing, Canadian Business US Registration by Province, Franchise Taxes & More (CA, DE, NM, TX, WY). Submit the original dissolution form, a Final Franchise Tax Report, and a check for fees to BCS by mail or in person. Some common dissolution steps include: Holding a vote with LLC members to dissolve … The secretary of state will charge 10% interest per year on the tax and penalty from the due date until it is paid. Resolve financial obligations. How Are Partnerships Different From LLCs? You’ll need to formally dissolve the legal entity with your state. Arkansas Corporations. Hold a Shareholder meeting to approve Dissolution of the Arkansas Corporation 3. In Arkansas, you must file a Final Report at the same time as your Articles of Dissolution and pay the $150 minimum tax. Checks should be payable to Arkansas Secretary of State. Little Rock, AR 72201-1094, Physical address: If you do not file your franchise tax report and fees, there is a $25 penalty fee. No, you do not need to include tax clearance with your dissolution documents. You will need to make arrangements to pay all … The members of an LLC must vote to dissolve the company. Every active Arkansas LLC has various tax accounts that are maintained by different departments within the Arkansas State government. How Do I Find a Company's Registered Agent? Will the FDIC Insure Money Held by an LLC or Corporation? File a Final Return and Related Forms. If you have been revoked by BCS, you just have to file your delinquent annual report/franchise tax and pay all your late fees in order to reinstate. Things you need to do before you Dissolve an Arkansas LLC. More How To Dissolve An Llc In Arkansas. Some common dissolution steps include: If your LLC does not have any set dissolution procedures in its operating agreement, you should consult the state for further instruction. Do I Need to Register My Business or Hire an RA first? How Much Does Registered Agent Service Cost? Failure to do so in a timely fashion can result in tax liabilities and penalties, or even legal trouble. The total tax, penalty, and interest for any one year will not be more than twice the tax owed by the corporation. Can I Sign Up If I Don't Know My Company Name Yet? The minimum final franchise tax for LLCs is $150. Is Northwest a National Registered Agent? The dissolution of a corporation package contains all forms to dissolve a corporation in Arkansas, step by step instructions, addresses, transmittal letters, and other … You are responsible for taking the necessary actions to notify creditors prior to dissolving a Arkansas LLC and winding up the company. DE Nonprofit Certificate of Incorporation, Watch Out for "Corporate Records Service". What Are the Pros & Cons of Incorporating in Wyoming? Arkansas Secretary of State Executive Office State Capitol, Suite 256 500 Woodlane … To dissolve an Arkansas LLC or Arkansas corporation, you'll need to submit articles of dissolution to the Arkansas Secretary of State. Home / Start an LLC / Arkansas LLC / Dissolve an Arkansas LLC. How Does NW Help Me Establish Business Privacy? Failure to Properly Dissolve Your LLC. Top [1] | 2-4-109 and 7-90-304 , … If you walk in your documents they will file them while you wait. The form requires the following … There is a $50 filing fee to dissolve your Arkansas LLC. However, some accounts require submitting other official paperwork. You can also access forms on BCS website or by contacting BCS. NOTE: None of your LLC's tax accounts can be closed if they have a remaining balance. How Do I Cancel Registered Agent Service? Why Choose NW to Form My LLC or Corporation? The $150 tax and the annual report together are known as the Annual LLC Franchise Tax Report. How to Dissolve an Arkansas Corporation by the Board of Directors Most corporations must be dissolved by the board of directors, and we discussed the necessity of … Include the filing fee as well as the franchise tax for the current year. If your Arkansas LLC just does not file its annual report and/or franchise tax, you will be charged penalty fees and eventually you may be revoked by BCS. Does NW Offer Total Corporation Services to Companies? When Should I Turn a Sole Proprietorship Into an LLC? For most LLCs, the steps for dissolution will be outlined in the operating agreement. Filing Method:Online or paper form via mail. How Do I Change a Sole Proprietorship to an LLC? Handle final returns for income tax and sales tax. A limited liability company (LLC) is a type of business entity that’s ideal for startups and small- to medium-sized businesses. another tab or to download the PDF. 2010 Arkansas Code Title 4 - Business and Commercial Law Subtitle 3 - Corporations And Associations Chapter 32 - Small Business Entity Tax Pass Through Act Subchapter 9 - … Victory Building To dissolve your Arkansas LLC, you submit the completed form Articles of Dissolution for Limited Liability Company to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. Once this document has been filed and processed, your LLC will no longer legally exist. Cancel your … When you sign up for registered agent service with Northwest, the articles of dissolution form is in your online account. You cannot … Hold a Directors meeting and record a resolution to Dissolve the Arkansas Corporation 2. The articles of dissolution must include: The Name of the … Company Dissolution in Arkansas The Process. Once the board directors are elected by shareholders through exercising their corporate voting rights or shareholder rights, the directors of the board … Formally Dissolve The LLC Or Corporation. You get the advantages and protections of larger Arkansas corporations but with much simpler rules and regulations. Once you have filed your papers to form the LLC, there are a … If you … As an essential business, we’re open, fully operational, and all services are active and available! California: Form:Amendment to Articles … Can My Business Mail Be Sent to My Registered Office Address? Choose to view the in Incfile prepares the Articles of Dissolution for you, and files them to the state for $149 + State Fees. All Rights Reserved. With a corporation, all business associates need to vote on closing the business. Create an operating agreement. To dissolve your Arkansas corporation, submit a completed dissolution form to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. Want more All Up In Yo' Business? All Arkansas LLCs are required to submit an annual franchise tax report to Arkansas BCS by May 1 each year. If you have reached the point where it's time to close shop and shut down operations, you'll need to learn the rules about going out of business. Enter your information below to create your free account. Here are some of the common taxes your LLC may owe: Closing your tax accounts usually involves simply filing a final return to the appropriate agency. 1. To dissolve your Arkansas LLC, you submit the completed form Articles of Dissolution for Limited Liability Company to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. , behind the scenes, and MORE has formally dissolved your company the Members an! 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