The Arkansas Secretary of State has waived late fees and interest charges on business franchise tax until July 15th. The filing deadline for the annual franchise tax is due May 1st. Failure to file by May 1 typically incurs a penalty plus interest. This year any filing between May 2 and July 15 will not incur these fees. This waiver only applies to the 2020 franchise tax reporting year.
This waiver is one way that they Arkansas Secretary of State is trying to help businesses that need extra time to file during the ongoing COVID-19 pandemic.
Arkansas – Franchise Tax Penalty Waiver