§ 26-26-1406 - Penalties. - Arkansas Statutes

26-26-1406. Penalties.

(a) A penalty of ten percent (10%) of the taxpayer's total tangible personal property taxes shall be imposed on any taxpayer who fails or refuses to assess his tangible personal property on or before April 10 of each year.

(b) A penalty of ten percent (10%) of the taxpayer's total tangible personal property taxes shall be assessed if the taxpayer fails or refuses to pay tangible personal property taxes on or before October 10 next following the assessment of the property for taxes.