43-1152. Powers of corporation suspended for
nonpayment of tax
Except for the purpose of amending the articles of incorporation to set forth a new
name, the corporate powers, rights and privileges of a domestic corporation as defined in
section 10-140 shall be suspended, and the exercise of the corporate powers, rights and
privileges of a foreign corporation as defined in section 10-140 in this state shall be
forfeited, if any of the following conditions occurs:
1. If any tax, penalty or interest, or any portion thereof, which is due and
payable either at the time the return is required to be filed, or on or before the
fifteenth day of the ninth month following the close of the income year, is not paid on
or before 5:00 p.m. on the last day of the twelfth month after the close of the income
year.
2. If any tax, penalty or interest, or any portion thereof, other than jeopardy or
fraud assessments, due and payable upon notice and demand from the department, is not
paid on or before 5:00 p.m. on the last day of the eleventh month following the due date
of such tax.
3. If any jeopardy or fraud assessment, or any interest or penalty thereon, is not
paid within forty days from the date of such tax, penalty and interest are due and
payable upon notice and demand from the department, unless the bond permitted by section
42-1111, subsection B is filed to stay the collection of the tax, interest or penalty,
and such tax, interest or penalty is paid within sixty days after notice by the
department on the taxpayer's petition for reassessment.
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