Ark. Code § 26-26-1608
If any person, firm, company, copartnership, association, or corporation whose assessment is provided for in this subchapter neglects or refuses to make and file with the Tax Division of the Arkansas Public Service Commission by March 1, the statements and schedules required by this subchapter, or make such report and fails to show or shows erroneously any information called for that is material to the determination of any fact to be ascertained by the division in connection with the amount, description, location, and value of the property required to be assessed, the division shall inform itself as best it can on the undisclosed facts in order to discharge its duties with respect to the assessment of the property of the company and proceed to assess it.
Ark. Code § 26-26-1608