AR SB920

Establishes a franchise tax penalty and interest amnesty program administered by the Secretary of State for entities whose corporate charters were revoked on or before December 31, 2012, for failure to pay franchise taxes under the Arkansas Corporate Franchise Tax Act of 1979

Amnesty window runs from September 1, 2013, through December 31, 2013, during which taxpayers may apply and pay all delinquent franchise taxes

Taxpayers granted amnesty are relieved from paying all penalties and interest on delinquent franchise taxes and are exempt from further collection activity

Eligibility requires taxpayers to apply during the amnesty period, submit all applicable franchise tax reports and forms, and pay the full tax amount as computed by the Secretary of State

Failure to pay any franchise taxes not covered by the amnesty when due will invalidate the amnesty granted under the act