Secretary of State's Office reminds business of penalty and interest waiver
3, 2013) LITTLE ROCK - Secretary of State Mark Martin reminds
businesses that the amnesty season on franchise tax penalties and
interest has begun.
program was created by Act 1041 of the 2013 legislative session,
establishing a franchise tax penalty and interest amnesty season.
now until the end of this year, businesses that complete the proper
paperwork can catch up on delinquent franchise taxes without having to
pay accrued penalties and interest," Martin said.
current and delinquent franchise taxes must be submitted with the
appropriate paperwork and payment in person or by mail. Martin
emphasized that the amnesty is applicable only for businesses revoked as
of Dec. 31, 2012, and that penalties and interest due for the current
year are not eligible.
owners should remember this is a one-time deal," Martin urged. "They
must pay current franchise taxes as well as their delinquent amounts of
up to three years."
Amnesty application forms may be downloaded from the Secretary of State's website,