§ 26-54-105 — Franchise tax reports

(a) (1) The Secretary of State shall furnish notice to each corporation subject to this chapter by mailing or emailing the notice to the corporation's current agent for service or other person identified by the corporation. (2) When filing the franchise tax report, a corporation may state who is to receive a franchise tax form the following year if that person is different from the agent for service on file for the corporation at that time. (b) A corporation that fails to receive the notice under subdivision (a)(1) of this section by March 20 of the reporting year shall make written request for the notice to the Secretary of State on or before March 31. (c) (1) Each corporation subject to the requirements of this chapter shall file a franchise tax report with the Secretary of State that shows the condition and status of the corporation as of the close of business on the last day of the corporation's preceding calendar year and other information required by the Secretary of State. (2) (A) The franchise tax as computed on the report shall be remitted with the franchise tax report. (B) The franchise tax as computed on the report shall be remitted with the franchise tax report on or before May 1 of the reporting year for franchise tax due. (d) (1) Every corporation that dissolves shall be required to pay at the time of dissolution the franchise tax for the prior calendar year and pay at the time of dissolution the minimum franchise tax for the year in which dissolved or withdrawn. (2) Any newly formed corporation shall not be required to file a franchise tax report until the calendar year immediately following the calendar year of incorporation. (e) (1) When the par value of the shares of a corporation is required to be stated in any franchise tax report and the shares of the corporation are without par value, the number of shares shall be stated. (2) For the purpose of computing the franchise tax prescribed by this chapter, shares of no par value shall be considered to be of the par value of twenty-five dollars ($25.00) per share. (f) Each corporation which pays its tax computed by the full assessment of capital stock or property shall not be required to report the value of its real and personal property within or without this state. (g) (1) Every franchise tax report shall contain the following statement: "I declare, under the penalties of perjury, that the foregoing statements are true to the best of my knowledge and belief." (2) The statement shall be signed by the president, vice president, secretary, treasurer, or controller of the corporation or any other authorized person individual as determined by the Secretary of State. (h) (1) Only the following information contained in a franchise tax report shall be available for public inspection: (A) The name and address of the corporation; (B) The name of the corporation's president, vice president, secretary, treasurer, and controller; (C) The total authorized capital stock with par value; (D) The total issued and outstanding capital stock with par value; and (E) The state of incorporation. (2) In the case of a franchise tax report filed by an organization formed under the Uniform Limited Liability Company Act, § 4-38-101 et seq., the names of members, except those designated in the organizations' franchise tax report as a manager, president, vice president, secretary, treasurer, or controller of the organization, shall be confidential and not available for public inspection unless the organization has no registered agent for service of process.

Legislative History

Amended by Act 2023, No. 459,§ 7, eff. 8/1/2023. Amended by Act 2023, No. 459,§ 6, eff. 8/1/2023. Amended by Act 2021, No. 1041,§ 36, eff. 7/28/2021. Amended by Act 2021, No. 1041,§ 35, eff. 7/28/2021. Amended by Act 2021, No. 523,§ 15, eff. 4/1/2021. Amended by Act 2019, No. 819,§ 20, eff. 5/1/2021. Amended by Act 2017, No. 458,§ 1, eff. for tax years beginning on or after 1/1/2017. Acts 1979, No. 889, § 4; A.S.A. 1947, § 84-1836; Acts 1987, No. 19, § 2; 1989, No. 502, § 1; 1991, No. 1046, § 1; 1991, No. 1140, § 1; 1995, No. 772, § 1; 1999, No. 1056, § 1; 1999, No. 1598, § 2; 2003 (2nd Ex. Sess.), No. 94, § 3; 2005, No. 883, § 1; 2007, No. 865, § 2.