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Written by : Versie Rackers
Current : 2052
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as we say goodbye to 2021 we're taking a closer look at a few tax changes coming to arkansas in 2022. in the regular and most recent sessions the arkansas general assembly passed several acts that will affect you the question is how and how much thp 11's frederick price explains yes we already know what some of you are thinking new year new me when the clock strikes 12 o'clock but listen you aren't the only one that's planning something new for 2022 here in arkansas january 1st marks the first day of new tax legislation so let's break it all down for you we'll start with act one and two which reduces the state income tax rate what this means is that the current top tax rate 5.9 percent will drop to 5.5 starting on saturday by 2026 the rate will drop down to 4.9 percent drivers listen up if you're in the market for a used car that costs between four and ten thousand dollars you're in luck act 1013 will drop the sales tax on those cars from 6.5 percent to just below 4 percent and moving on to act 376 right now the registration fee for a hybrid vehicle like a prius or a toyota corolla is 100 well that drops to 50 so safe driving when it comes to cold cases in our state sometimes the arkansas state police needs extra help for retired officers who ate asp in investigating cold cases act 841 creates an income tax credit just for them finally act 765 the law enforcement family relief checkoff program now what this act does is allow a person to designate some or all of their tax refund money to this program by doing so the legislation says that money will help the families of officers in arkansas who were killed in the line of duty or diagnosed with a terminal illness from reducing income taxes to dropping used car sales tax the state is hoping to save you a little extra cash in 2022 so happy new year frederick price thv 11 news happy new year frederick we've posted a full list of the new taxes set to begin tomorrow and you can find those on our website thv11.com
Thanks for your comment Marybeth Panciera, have a nice day.
- Versie Rackers, Staff Member
hello my beautiful people issue girl kg and I am back yet again with another video today I'm going to be dropping this gym on what's needed in order for you to start your very own business and one of the things that's needed is you have to file your business with the state that you live in as well as apply for your employee identification number but with that being said we're gonna get straight into the video and I'm going to explain to you how it's done so if you were to go to Google and just say put in how to file an LLC and whatever state you live in and I currently reside in the state of Arkansas you'll notice that you have all of these different third-party websites that will literally charge you one two three hundred dollars for something that would cost you about fifteen I don't know about you but I like to save money so I just wanted to do all that because they will try to get your money if you let them and so I do not have to go do a party to open a business you can do it yourself so since I currently reside in the state of Arkansas what I did was I just go to Arkansas dot-gov is there and bring you to this website and make sure when you're going to these different websites that you pay attention to the suffix at the end of the website that is very important so you're going to scroll down to business and Arkansas it's like to bring me to this screen this is starting a new business you want to click here on this hyperlink that says the Arkansas Secretary of State and it's going to redirect you to another page you want to click on oops you want to click up at the top where it says business God says over the top Arkansas Secretary of State John Thurston and the pre I'm sorry the sub fix at the end says go if you want to scroll down you can read all of this information entry to discussion basically what it's saying is due to the coronavirus any inquiry is that you may have have to be submitted via phone by calling this phone number or emailing you're not able to just walk down to the Capitol and go in and ask any question that you have okay so you're gonna go down to where it says form and penis and depending on what type of business you're opening best describes what kind of form that you're gonna be filling out you have to open up corporations or S corporation partnership sole proprietorships but for the sake of this video I'm going to be showing you all how to open an LLC I believe it's the most common for small business owners you have any questions about the different types or you're not sure which type it is that you're trying to open but you can click on these people yes and it'll give you more information that you may have you could always research so you choose one is better for you so you click on LLC and scroll down you see where it says article of organizations for a domestic limited liability company or LLC and domestic means that it only operates in the state of Arkansas it gives you the option to do it online or submit a PDF it is five dollars more if you want to print it out and send in a money order for payment so we're going to click here online it's going to redirect me to yet another screen and it says domestic for property and domestic for non property I believe either for opening charities don't hold me on that we're looking for domestic LLC you click on start form and it brings you to this screen as filing at it's already pre-selected if you know specifically that you need to file a different act you do have the option of changing this I don't know what this means so I'm not gonna get into it but the one that I'm looking for is pre-selected and then you're going to continue scrolling and they ask you to enter in your business name when you enter in the business name basically what it's saying here in this here in the small print is that you need to put the words LLC so say if you were to open up dogs and puppies it just has to have LLC at the end notice how company name has an asterisk where his manager statement is there is no ash-tree meaning this is required in order to complete the form whereas this is optional as we continue to scroll don't let any of this like information that is asking you to it's enter confuse you because depending on how many people are help you operate your business or solely if it's just you you're literally just re-entering in your information multiple times so since I'm the only one that is in my business I'm the only employee I'm the boss and the employee I would enter in my information here with asking for principal information it says you can either enter your entity name which means the name of your business or your first name but you do not need to put both and then I asked me for an address if you're using your home address which I did that's perfectly fine or you have a business office you can enter it in here I don't have one as a yes I just put up my home address and asked you for the registered agent you can read what this means it's just basically like if they have to send important documents who is going to so I put my information here again if there are different officers who help you run the business you would put in their information and then click save officer and it'll let you enter in more than one the submitter information where I enter in yet again my information and I would just like to say as a disclosure make sure you need to make sure the whole form is filled out correct but especially here where it's asking you for your phone number and your email address because they are gonna email you the certificate and I would suggest strongly that you put in your business email address so that you have a specific place or your business information versus your personal information then as we continue to scroll it asked for the angular report contact information if you have a bookkeeper or a accountant this would be where you entering their information but yet again since I'm the only one I put in my information and then like if I need to go to someone personally and have them follow my business taxes for me I can and then it's gonna ask you to sign and agree the date is already selected today's date and then you put it out here understand and make sure that it's legit because you don't want to be fine or ended up in prison so you sign and you hit submit and then it's gonna redirect you to a page where you can submit your payment be a credit card or debit card and so once you complete that I believe they quote three to five business days for you to receive the certificate I received mine the very next day I did it on a Friday and then I received it only Tuesday you see where it says articles of organization rich girl vibe loc this was filed in this office on this state we have his John Thurston's name and signature and so after you've done that the next thing you're gonna do need to do is file for an employee identification number or a EIN number and that's what you need if you're interested in opening up a bank account a business bank account or save you wholesale like clothes or something like that when you go to certain websites they will request that you put i
Thanks Shane your participation is very much appreciated
- Versie Rackers
About the author
I've studied radio astronomy at Tennessee Tech University in Cookeville and I am an expert in ethnoarchaeology. I usually feel grumpy. My previous job was radiation therapists I held this position for 31 years, I love talking about ant-keeping and rappeling. Huge fan of George Ezra I practice snow skiing and collect games.
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