To conduct business in Arkansas as a foreign entity, you must first register with the secretary of state of Arkansas. Foreign qualification is the term for this procedure. A company that has been incorporated or established in another state or nation is referred to as a foreign entity.
Accordingly, if your foreign entity intends to operate a business, own property, keep an office, or employ people in Arkansas, you must register to do business there. According to Arkansas law, failing to comply with this duty may result in fines and other legal repercussions.
You must submit an Application for Certificate of Authority to the Arkansas Secretary of State in order to register your foreign entity there. The following details must be included in the application: A statement of the business activities your foreign entity will conduct in Arkansas
– The state or country of incorporation or formation
– The principal office address of your foreign entity
As a result, there are a number of variables that will affect how much it will cost to form an LLC in Arkansas, such as the sort of organization you’re forming and the filing fees. The filing fee, for instance, is $300 for an application for a certificate of authority whereas it is $50 for LLC articles of organization.
You might also wonder if Arkansas requires you to renew your LLC annually. Yes, it is the answer. In Arkansas, every LLC is required to submit an annual franchise tax report and pay a $150 franchise tax. If you don’t, you risk fines and potentially the termination of your LLC.
The Arkansas Secretary of State must receive an Articles of Amendment if you need to change the name of your LLC thereafter. An Articles of Amendment must be filed for $50. Your LLC’s previous name and new name must be listed in the amendment, together with a declaration that it has been approved in line with the laws of the state or nation where it was formed.
In conclusion, you must register with the Arkansas Secretary of State through the foreign qualifying process if you are a foreign entity seeking to conduct business in Arkansas. In order to do this, a Certificate of Authority Application must be submitted together with the necessary costs. After registering, you must abide by all laws and regulations in Arkansas, which includes renewing your LLC every year and applying for any name changes through the proper procedures.
You must submit a “Business Name Registration” to the Arkansas Secretary of State’s office in order to register a business name there. Either online or by mail, you can file. The registration is valid for five years, and the filing price is $25. It’s crucial to understand that in Arkansas, registering a business name does not constitute incorporation or registration as a foreign entity.