§ 26-26-1406. Penalties

AR Code § 26-26-1406 (2018) (N/A)
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(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 or her tangible personal property on or before May 31 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 15 next following the assessment of the tangible personal property for taxes.