Arkansas requires business owners to submit their Articles of Dissolution by mail. Some common dissolution steps include: Holding a vote with LLC members to dissolve … You cannot … The $150 tax and the annual report together are known as the Annual LLC Franchise Tax Report. All Rights Reserved. What is the Cost to Form a Nevada Business? If your LLC operating agreement has a procedure for voting on dissolution, you should follow it. The total tax, penalty, and interest for any one year will not be more than twice the tax owed by the corporation. California: Form:Amendment to Articles … Can I Sign Up If I Don't Know My Company Name Yet? 2010 Arkansas Code Title 4 - Business and Commercial Law Subtitle 3 - Corporations And Associations Chapter 32 - Small Business Entity Tax Pass Through Act Subchapter 9 - … To dissolve an Arkansas LLC or Arkansas corporation, you'll need to submit articles of dissolution to the Arkansas Secretary of State. More How To Dissolve An Llc In Arkansas. Does NW Offer Total Corporation Services to Companies? Choose to view the in File the Arkansas LLC Articles of Dissolution, Mail to:Arkansas Secretary of State1401 W. Capitol, Suite 250Little Rock, AR 72201. Home / Start an LLC / Arkansas LLC / Dissolve an Arkansas LLC. How Are Partnerships Different From LLCs? Failure to do so in a timely fashion can result in tax liabilities and penalties, or even legal trouble. Every active Arkansas LLC has various tax accounts that are maintained by different departments within the Arkansas State government. How Much Does Registered Agent Service Cost? For instance, Arkansas could involuntarily dissolve your LLC if you fail to pay your LLC’s franchise taxes or any financial penalties within 60 days of the due date, fail to submit your annual … What Are the Pros & Cons of Incorporating in Wyoming? How Do I Change My Corporation's Par Value? 250 Cancel your … Here are some of the common taxes your LLC may owe: Closing your tax accounts usually involves simply filing a final return to the appropriate agency. For most LLCs, the steps for dissolution will be outlined in the operating agreement. How to Move Your Business to Another State, How to Move Your Business and Change Your Entity Type, Get a Canadian Certificate of Good Standing. NOTE: None of your LLC's tax accounts can be closed if they have a remaining balance. Arkansas Secretary of State Executive Office State Capitol, Suite 256 500 Woodlane … Arkansas Secretary of State Before you can dissolve your LLC, you must first pay off all taxes and/or fines owed to these accounts. Hold a Members meeting and record a resolution to Dissolve the Arkansas LLC 2. Fee:$45 Online fee; $50 Paper fee. Also, you have to file a final report when you dissolve, so if your franchise taxes are not current, BCS will not allow you to dissolve your LLC. Our free account and tools will help you get started and maintain your business. Company Dissolution in Arkansas The Process. Google Map | Contact Us However, some accounts require submitting other official paperwork. Apostille, Certified Copy & Certificate of Good Standing, Canadian Business US Registration by Province, Franchise Taxes & More (CA, DE, NM, TX, WY). If your Arkansas LLC just does not file its annual report and/or franchise tax, you will be charged penalty fees and eventually you may be revoked by BCS. Why Choose NW to Form My LLC or Corporation? Is Northwest a National Registered Agent? To dissolve your Arkansas corporation, submit a completed dissolution form to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. Arkansas LLCs that have been administratively dissolved (revoked) are protected for seven years following the date of dissolution. If you have reached the point where it's time to close shop and shut down operations, you'll need to learn the rules about going out of business. To dissolve a company in Arkansas first step is to have a meeting of its members (for LLC) or directors/shareholders (for corporation) and … In Arkansas, you must file a Final Report at the same time as your Articles of Dissolution and pay the $150 minimum tax. Victory Building Top [1] | 2-4-109 and 7-90-304 , … … All LLCs operating in Arkansas must file an annual report and pay a flat-rate tax of $150 each year. Include the filing fee as well as the franchise tax for the current year. Once this document has been filed and processed, your LLC will no longer legally exist. Failure to Properly Dissolve Your LLC. Little Rock, AR 72201. Will the FDIC Insure Money Held by an LLC or Corporation? Want more All Up In Yo' Business? File a Final Return and Related Forms. You’ll need to formally dissolve the legal entity with your state. When Should I Turn a Sole Proprietorship Into an LLC? How to Register a Business Name in Arkansas, "Providing actionable and accessible guides and tools to help you succeed", Holding a vote with LLC members to dissolve the LLC, Recording the dissolution vote in the LLC’s meeting minutes, Determining the formal date of dissolution, Notifying creditors and settling any business debts. As an essential business, we’re open, fully operational, and all services are active and available! You must file a final return for the year you close your … Statement of Dissolution (Limited Liability Company) filed pursuant to §7-80-802 and part 3 of Article 90 of Title 7 of the Colorado Revised Statutes (C.R.S.). Filing Method:Online or paper form via mail. Once the board directors are elected by shareholders through exercising their corporate voting rights or shareholder rights, the directors of the board … Submit the original dissolution form, a Final Franchise Tax Report, and a check for fees to BCS by mail or in person. To dissolve an LLC in Arkansas, simply follow these three steps: For most LLCs, the steps for dissolution will be outlined in the operating agreement. Briefly, the benefits of starting an Arkansas … Name of Official Document: Form # Online Fee: Paper Fee: Online Form: PDF Form: … All Arkansas LLCs are required to submit an annual franchise tax report to Arkansas BCS by May 1 each year. The members of an LLC must vote to dissolve the company. In order to dissolve a foreign LLC in Arkansas, you will need to file the Application for Cancellation by Foreign Limited Liability Company. No, you do not need to include tax clearance with your dissolution documents. Articles of Dissolution are the forms that you file to voluntarily dissolve your LLC. How Does NW Help Me Establish Business Privacy? If your corporation hasn’t issued shares, you need the approval of your Board of Directors to dissolve … If you voluntarily dissolve your LLC or corporation, you lose your name once BCS has formally dissolved your company. To dissolve your Arkansas LLC, you submit the completed form Articles of Dissolution for Limited Liability Company to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. Hold a Shareholder meeting to approve Dissolution of the Arkansas Corporation 3. With a corporation, all business associates need to vote on closing the business. How Do I Change a Sole Proprietorship to an LLC? The minimum final franchise tax for LLCs is $150. You can also have a professional service provider file your Articles of Dissolution for you. The secretary of state will charge 10% interest per year on the tax and penalty from the due date until it is paid. How to Dissolve an Arkansas Corporation by the Board of Directors Most corporations must be dissolved by the board of directors, and we discussed the necessity of … Little Rock, AR 72201-1094, Physical address: Your Arkansas registered agent may be able to help with the dissolution process. To dissolve your Arkansas LLC, you submit the completed form Articles of Dissolution for Limited Liability Company to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. You will need to make arrangements to pay all … A limited liability company (LLC) is a type of business entity that’s ideal for startups and small- to medium-sized businesses. The dissolution of a corporation package contains all forms to dissolve a corporation in Arkansas, step by step instructions, addresses, transmittal letters, and other … All taxes, penalties, fees, and interest must be paid in full before you can dissolve your LLC. Can My Business Mail Be Sent to My Registered Office Address? You get the advantages and protections of larger Arkansas corporations but with much simpler rules and regulations. Create an operating agreement. 1401 West Capital Ave., Ste. How Do I Find a Company's Registered Agent? Checks should be payable to Arkansas Secretary of State. There is a $50 filing fee to dissolve your Arkansas LLC. What Exactly Does “Doing Business” in Another State Mean? What Are the Pros & Cons of Incorporating in Delaware? 1998 – 2021 Copyright © Northwest Registered Agent, LLC. Handle final returns for income tax and sales tax. Hold a Directors meeting and record a resolution to Dissolve the Arkansas Corporation 2. Once you have filed your papers to form the LLC, there are a … If you have been revoked by BCS, you just have to file your delinquent annual report/franchise tax and pay all your late fees in order to reinstate. 1. Step 1: Follow Your Arkansas LLC Operating Agreement. Become a member for special access to members-only videos, live streams, live chats, behind the scenes, and MORE! You can also access forms on BCS website or by contacting BCS. If you walk in your documents they will file them while you wait. Some common dissolution steps include: If your LLC does not have any set dissolution procedures in its operating agreement, you should consult the state for further instruction. If you no longer wish to conduct business with your LLC, it is important to officially dissolve it. You cannot file articles of dissolution online. Resolve financial obligations. The form requires the following … When you sign up for registered agent service with Northwest, the articles of dissolution form is in your online account. Arkansas Corporations. Arkansas: Form:Articles of Dissolution for Limited Liability Company. You are responsible for taking the necessary actions to notify creditors prior to dissolving a Arkansas LLC and winding up the company. Incfile prepares the Articles of Dissolution for you, and files them to the state for $149 + State Fees. Do I Need to Register My Business or Hire an RA first? We’ll walk you through how to file and pay this tax here: Arkansas … Make checks payable to Arkansas Secretary of State. All for free. How to Start a Virtual Personal Trainer Business, How to Start a Virtual Assistant Business, How to Start a Social Media Consulting Business, How to Start a Freelance Writing Business, How to Start an Online Course Development Business, How to Start a General Contracting Business, How to Start a Non-Medical Home Care Business, How to Start a Drone Photography Business. Business and Commercial Services, Mailing address: Dissolve your LLC in all states where it had a place of business. DE Nonprofit Certificate of Incorporation, Watch Out for "Corporate Records Service". How Do I Prove Licensure When Forming a NY Professional Entity? Enter your information below to create your free account. If it does not, you … If you do not file your franchise tax report and fees, there is a $25 penalty fee. Arkansas Secretary of State State Capitol 500 Woodlane Street, Suite 256 Little Rock, AR 72201 501-682-1010. Arkansas BCS processes dissolutions within two business days. You do not need to do so in states where you're planning to keep the LLC open. If you need assistance in closing your tax accounts, it may be helpful to hire a Certified Public Accountant. Formally Dissolve The LLC Or Corporation. How Do I Cancel Registered Agent Service? State Capitol If you … another tab or to download the PDF. The articles of dissolution must include: The Name of the … Things you need to do before you Dissolve an Arkansas LLC. It's always better if you take control of the … Do I Need my Registered Agent's Signature? 1: Follow your Arkansas LLC has various tax accounts can be closed if they a. Another tab or to how to dissolve an llc in arkansas the PDF Suite 250Little Rock, AR.... Llc / dissolve an Arkansas LLC operating agreement has a procedure for voting on dissolution you. I need to vote on closing the business a company 's Registered agent service with Northwest, the benefits starting! 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