Arkansas LLC

What is an Arkansas LLC?

Arkansas LLC or Arkansas Limited Liability Company is a business formation registered with the State of Arkansas Secretary of State. The Arkansas Limited Liability Company is similar to the Arkansas Corporation. The LLC is a hybrid of a Corporation and a Limited Partnership. This business structure in Arkansas is more commonly used than a Corporation for small business owners and investors.

Arkansas LLC Requirements

1. Arkansas Articles of Organization.
2. State Filing Fee of $50.
3. A Registered Agent located in Arkansas. See our service here.
4. FTR Registration
5. Beneficial Ownership Information Report filing. Report due after LLC formation starting January 1, 2024.

Arkansas LLC Structure

AR Limited Liability Companies are structured legally with the Arkansas Articles of Organization for Limited Liability Company. Like many states, the document for an LLC is short and simple.

The required information to be listed:

• Name
• Address
• Registered Agent
• Manager Statement if Applicable

Name

The name of the Arkansas Limited Liability Company shall be listed. The name of the LLC must contain the words “Limited Liability Company”, “Limited Company”, or the abbreviation “LLC”, “L.L.C.”, “LC” or “L.C.”. “Limited” may be abbreviated “Ltd.” and “Company” can be abbreviated “Co.”. If the LLC is a Professional LLC, the word “Professional” must be in the title. For example, “Professional Limited Liability Company”, “PLLC” and so on.

Address

The principal place of business will be listed under the address section of the Articles of Organization. It may be, but does not have to be, the place of business.

Registered Agent

Every entity in Arkansas is required to appoint and maintain a registered office and agent, who accepts service of process (notification of a lawsuit) and official business mail on behalf of clients. Every registered office must be a physical street location within the state, and this location must be kept open throughout the year during regular business hours.

Manager Statement

If the management of the Arkansas LLC is vested in a manager or managers, a statement to that effect will be required to be included with the Articles of Organization for Limited Liability Company.

How to File an Arkansas LLC

Steps in forming an Arkansas LLC:

1. Company Name. The first step is choosing a name for your company. The name must not already be in use in Arkansas, and it must meet the legal requirements for an entity name. To see if your name is available, do a Business Entity Search.
2. Articles of Organization. To form an LLC , you file Articles of Organization with the Secretary of State. This document can be filed online, by mail, or in person. There is a $50 filing fee ($45 online). If you file by mail, you must include a Franchise Tax registration form, at no additional fee.
3. Registered Agent. You are required to appoint an Arkansas registered agent to accept service of process and official business mail on your behalf. All agents must have a physical street address within the state, known as a registered office. This cannot be a post office box and must be kept open during regular business hours throughout the year.
4. Operating Agreement. A limited liability company is governed by an operating agreement, a document that designates the ownership of the company and outlines how the business will be managed. Management can be either member-managed or manager-managed. Managers, if appointed, are not required to be members of the company. An operating agreement is written by the LLC members and is not filed with any agency.
5. Business Accounts. A business entity needs business bank accounts to process payments and debits associated with the company. Accounts must be opened in person by an authorized individual. Most banks will require copies of the Articles, operating agreement and an initial resolution authorizing the opening of any accounts. You should call the bank branch where you intend to open an account to ask about their specific requirements.
6. Franchise Tax Report. After you form your LLC, you will be required to file an annual Franchise Tax Report (FTR) each year by May 1. There is a $150 charge.
7. Submit Beneficial Ownership Information Report. You must a file a BOI report with the Financial Crimes Enforcement Network after formation, starting January 1, 2024. The BOI report is free to file and must be submitted online.

Additional Resources:
How to Start an Arkansas LLC
How to Form an Arkansas LLC (paper option)

Arkansas Franchise Tax Report

After you start an Arkansas LLC, you will be responsible for filing a FTR each year by May 1. The filing fee is $150. The report can be filed online (the fee remains the same).

An entity is required to file a report every year until it is properly dissolved. Even if a company stops doing business, it must pay the tax until dissolution.

Federal Beneficial Ownership Information Report Filing

As a newly-formed LLC, you’ll probably need to submit a Beneficial Ownership Information (BOI) Report to the Financial Crimes Enforcement Network (FinCEN). The BOI report provides the federal government with basic information about your LLC and the people with the most power over your business decisions and profits. Starting January 1, 2024, this report is due following company formation.

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