Arkansas Business Franchise Tax Late Fees Waived Until July

Arkansas Secretary of State John Thurston has announced that late fees and interest charges on businesses’ annual franchise taxes will be waived until July 15th. The filing deadline for annual franchise taxes is May 1st.

Typically, companies filing after the deadline are charged a $25 late fee plus interest per day the payment is delinquent. These penalties will be waived for those who file between May 2nd and July 15th.

This only applies to the 2020 franchise tax reporting year.