Annual Franchise Tax Report
A report must be filed with the Arkansas Secretary of State each year. This report must include:
- The name of the corporation and the state or country of incorporation;
- The address of its registered office and the name of its registered agent;
- The address of its principal office;
- The names and business addresses of its directors and principal officers;
- A brief description of the nature of its business;
- The total number and itemization by class and series of authorized shares;
- The total number and itemization by class and series of issued and outstanding shares; and
- Any other information specified by the Arkansas Secretary of State.
The board must send an annual report to all shareholders no later than 120 days after the close of the fiscal year. The annual report describes the financial position of the corporation for the fiscal year, as well as all of its large transactions, indemnifications and advances made. The board must also notify shareholders of any indemnifications or advanced expenses made to a director by the time notice is sent to the next shareholders’ meeting.
A corporation may voluntarily elect to wind up and dissolve. The articles of dissolution must be delivered for filing to the Arkansas Secretary of State.