Corporate Tax

The Arkansas Appeals Workplace finds no affordable trigger for the underpayment of corporate revenue tax and is upholding the underestimated penalties

June 23, 2021, 5:00 a.m.

The Arkansas Office of Hearings and Appeals (OHA) on June 22 endorsed the Department of Finance and Administration (DFA) proposed corporate tax, penalty, and interest assessment. The taxpayer, an overseas company registered in Arkansas, requested an extension of tax filing. Since the extension did not extend the tax payment date, the DFA issued a notice to the taxpayer stating a penalty fee, interest and a total unpaid amount. The taxpayer paid the balance and applied for a fine. The DFA denied the request for an exemption because the taxpayer had been penalized in five previous tax years. The taxpayer appealed and the OHA found: 1) Taxpayers …

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