FAQ: Frequently Asked Questions For Arkansas
Arkansas Corporations
Corporate Name Endings
Corporation Requirements
Taxes and Fees
License Requirements
Corporate Name Endings
- The name must contain the word "Corporation," "Incorporated,"
"Company," "Limited," or an abbreviation thereof. The name may not
contain language stating or implying the corporation is organized for
other purposes, and must be distinguishable from names in use by
certain other enumerated entities.
Corporation Requirements
Director Information
- Minimum Number - Not less than three, unless there are only one or
two shareholders of record. Then the number of directors may be less
than three but not less than the number of shareholders.
- Residence Requirements - No provision.
- Age Requirements - None
- Directors are not required to be listed in the articles of incorporation.
Officer Information
- Officers are not required to be listed in the articles of incorporation.
Stock Information
- An increase in shares or par value does not affect initial filing fees.
Corporate Records
- The articles of incorporation, bylaws, and all amendments must be kept
at the principal place of business or transfer agent's office within the
state. Additionally, resolutions by the board of directors; minutes of all
shareholders' meetings; all written communications to shareholders
during the last three years; a list of names and business addresses of
current directors and officers; and the most recent annual franchise tax
report must be maintained. Further, the shareholder lists must be kept
at a principal place of business or transfer agent's office within the
state.
Taxes and Fees
Initial & Annual Statements
- Annual Franchise Tax filing. LLC fee is $150 and corporation fee is a
minimum of $150 per year for Franchise Tax. The annual filing is due
no later than May 1st.
Taxes
S Corporation
- S Corporation status is recognized by the State of Arkansas. A
separate state election is required.
License Requirements
- Certain types of businesses in the state are required to obtain a
license and pay a fee. The following is partial list.
Accountants
Barbers
Child-care facilities
Contractors
Cosmetologists
Electricians
Food service establishments
Insurance - agents, brokers, solicitors and adjusters
Nursing homes
Real estate brokers and salespeople
Surveyors
Travel bureaus or services
Please check with the state to make sure your business is complying with the
license requirements for your particular profession.
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