A certificate of good standing in Arkansas validates that a limited liability company (LLC) or corporation was founded lawfully and has been properly maintained.
In our Certificate of Good Standing Arkansas tutorial, we will go over the qualifications for good standing as well as how to get one in Arkansas.
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How Do I Obtain an Arkansas Certificate of Good Standing?
You may get your Arkansas certificate of good standing from the Secretary of State.
There are two major processes involved in obtaining your certificate of good standing:
1. Maintain your LLC’s compliance
2. Request a certificate of good standing.
Step 1: Ensure that your Arkansas business is in compliance.
To be eligible for an Arkansas certificate of good standing, your company must meet the following state compliance requirements:
Permits and Licenses
To run a company in Arkansas, you must adhere to federal, state, and local licensing requirements. Regulations such as health permits and construction permits are examples of this.
The State of Arkansas website has further information on state licensing requirements.
State levies
Depending on your company activity, you may be required to register for several types of Arkansas state tax. Sales tax, withholding tax, and Unemployment Insurance (UI) tax are all examples of this.
Arkansas firms must additionally pay an annual franchise tax of $150 or more.
Reports on a Year
Arkansas LLCs and corporations are required to submit an annual franchise tax report. This report outlines your company’s finances for the previous year and updates your company’s basic information.
This may be sent to the Secretary of State either online or by mail. The report has no filing charge, however the minimum tax owed is $150.
Step 2: Request an Arkansas Certificate of Good Standing.
Once your company is in good standing with the state, you may apply to the Secretary of State for an Arkansas certificate of good standing. This is something that can be done online.
Is a Certificate of Good Standing Required in Arkansas?
While you don’t always need a certificate of good standing to operate a company in Arkansas, there are a few times when you may. These are some examples:
Purchasing commercial insurance
Applying for commercial loans
Establishing a business checking account
Getting a business license in another state
