The breakdown on who needs to file an Arkansas Annual Carrier Report and how to do it.
If Arkansas has not been an area your commercial travels have taken you before, you may not have heard of the Arkansas Annual Carrier Report. But, if you plan to start conducting business that takes you either into, or through the State of Arkansas, then you will need to start filing an Annual Carrier Report with their Tax Division.
What is the Arkansas Annual Carrier Report?
The Arkansas Annual Carrier Report is overseen by Arkansas Tax Division by the Arkansas Public Service Commission. The Tax Division assesses the property of all telecommunications providers including motor carriers and bus lines.
The Tax Division is responsible for determining the assessed values for property tax purposes on public utilities and carriers. So, you will need to know the market value of your equipment.
You can do this by using The Truck Blue Book, NADA books or using sources at tractor or trailer dealerships.
You must file your Arkansas Annual Carrier Report on or before March 31st.
If it is your first year submitting, you will need to contact the Arkansas Tax Division at 501-682-1272. Subsequent filings can be done online at http://www.apscservices.info/tax/ .
You will get an Arkansas Company ID number to submit your report online. You will be able to keep track of your Arkansas Company ID with your USDOT number.
Who needs to file?
All motor carriers and bus lines that travel for hire into or through the State of Arkansas.
The Tax Division sends Annual Reports to motor carrier and bus lines that have listed an intent to travel through or to Arkansas with Single State Registration in their base state or have purchased a 72-hour trip permit. All base states send their list of registrants to the Arkansas Tax Division. This leads to the next most frequently asked question:
What if I didn’t travel through Arkansas?
You will still need to file. If you registered an intent to travel, but then did not go, you will still need to complete the report.
What information do I need to complete the report?
You need 4 pieces of information:
- You will need to know your total for hire miles through all states including Arkansas from January 1st to December 31st of the previous year.
- All Arkansas for hire miles for the previous year.
- All for hire owned and leased equipment in your fleet that was under you control on January 1st of the current year.
- The average manufacture year of the equipment you used.
What happens if I fail to file on time?
If you are delinquent in submitting your Arkansas Annual Carrier Report you will be reported to the Department of Finance and Administration and may be subject to a penalty for each day you are late in filing. You can request extensions up to 60 days for late filing, but this must be made in writing prior to March 31st, and you will need good cause for the extension.
Who can help with submitting my report?
A trucking consulting firm will help get you set up with the State of Arkansas with a Company ID#, and help you get your Annual Carrier Report. A good team will help you figure out the market value of your equipment and help you with tracking your mileage for completing the report. A team like PSTC will keep you on track and from getting caught with any nasty penalties. We can even help with the appeal process should you be dissatisfied with the final assessment in the Annual report.