AR HB1406

Secretary of State or designee may settle or compromise disputes concerning interest or penalties on corporate franchise taxes if the taxpayer disputes the proposed amount or is insolvent or bankrupt

Secretary of State may waive accrued interest or assessed penalties if the taxpayer is reasonably mistaken about the application of franchise tax law or cannot pay due to insolvency or bankruptcy

Secretary of State may waive fees owed by taxpayers who desire to dissolve their corporation

If parties cannot resolve the dispute through settlement, they may pursue other remedies available under the Arkansas Administrative Procedure Act or other law

Secretary of State shall develop guidelines to assist taxpayers in resolving corporate franchise tax disputes