AR SB207

Creates the Secretary of State Business and Commercial Services Electronic Filing System Fund, funded by processing fees collected under § 26-54-104(b)(1) and used to maintain the electronic filing system.

Establishes processing fees for electronic filings: $4.00 for filing fees of $50 or less, $5.00 for filing fees between $51-$167, and 3% of the filing fee for amounts exceeding $167.

Amends the definition of "corporation" under the Arkansas Corporate Franchise Tax Act to include limited liability companies.

Changes corporation charter forfeiture language to "revocation" and reduces the reinstatement period from seven years to five years after charter revocation.

Modifies franchise tax reporting requirements to reference "calendar year" instead of "fiscal year" and changes notice delivery from mailing report forms to mailing notice to corporations.