Ark. Code Ann. § 4-27-1420 (2026)

The Secretary of State may commence a proceeding under § 4-27-1421 to administratively dissolve a corporation if:

1. the corporation does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law;
2. the corporation does not deliver its annual franchise tax report to the Department of Finance and Administration within sixty (60) days after it is due;
3. the corporation is without a registered agent in this state for sixty (60) days or more;
4. the corporation does not notify the Secretary of State within sixty (60) days that its registered agent has been changed or has resigned; or
5. the corporation's period of duration stated in its articles of incorporation expires.

History. Acts 1987, No. 958, § 64-1408; 2007, No. 638, § 15; 2019, No. 819, § 7.

A.C.R.C. Notes. Acts 2019, No. 819, § 1, provided: “Title. This act shall be known and may be cited as the ‘Arkansas Tax Reform Act of 2019'”.

Acts 2019, No. 819, § 2, provided: “Legislative findings and intent.

“(a) The General Assembly finds that:

“(1) The Arkansas Tax Reform and Relief Legislative Task Force was charged with:

“(A) Examining and identifying areas of potential tax reform within the tax laws; and

“(B) Recommending legislation to the General Assembly, in part, to modernize and simplify the Arkansas tax code and ensure fairness to all taxpayers;

“(2) There are several areas of the tax code that should be amended to reform the state's tax laws to modernize and simplify the tax code and ensure fairness to all taxpayers; and

“(3) Any savings realized by the state through tax reforms should be dedicated to reducing the tax burden for Arkansas taxpayers.

“(b) It is the intent of the General Assembly to:

“(1) Reform Arkansas tax laws to modernize and simplify the tax code and ensure fairness to all taxpayers; and

“(2) Offset any revenue savings realized through tax reform with corresponding changes to reduce the tax burden for Arkansas taxpayers”.

Publisher's Notes. For text of section effective until May 1, 2021, see the preceding version.

Amendments. The 2019 amendment substituted “Department of Finance and Administration” for “Secretary of State” in (2).

Effective Dates. Acts 2019, No. 819, § 26(a): May 1, 2021. Effective date clause provided: “Sections 3-17 and 20-24 of this act are effective on and after May 1, 2021”.