State Codes and Statutes

Statutes > Kentucky > 136-00 > 565

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Page 1 of 1 136.565 Liability of corporate officers for taxes. Notwithstanding any other provisions of KRS 136.500 to 136.575, the president, vice <br>president, secretary, treasurer, or any other person holding any equivalent corporate office <br>of any financial institution subject to the provisions of KRS 136.500 to 136.575 shall be <br>personally and individually liable jointly and severally, for the taxes under KRS 136.500 <br>to 136.575 in the event that the financial institution is unable to make payment. Neither <br>the corporate dissolution or withdrawal of the financial institution from the <br>Commonwealth nor the cessation of holding any corporate office shall discharge the <br>liability imposed by this section. The personal and individual liability shall apply to each <br>and every person holding a corporate office at the time the taxes become or became due. <br>No person will be personally and individually liable pursuant to this section if that person <br>did not have authority in the management of the business or financial affairs of the <br>financial institution at the time the taxes imposed by KRS 136.500 to 136.575 become or <br>became due. &quot;Taxes&quot; as used in this section includes interest accrued at the rate provided <br>by KRS 131.010(6) and all applicable penalties and fees imposed under the provisions of <br>KRS 136.500 to 136.575 and KRS 131.180, 131.440, and 131.990. Effective: July 15, 1996 <br>History: Created 1996 Ky. Acts ch. 254, sec. 15, effective July 15, 1996.

State Codes and Statutes

Statutes > Kentucky > 136-00 > 565

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Page 1 of 1 136.565 Liability of corporate officers for taxes. Notwithstanding any other provisions of KRS 136.500 to 136.575, the president, vice <br>president, secretary, treasurer, or any other person holding any equivalent corporate office <br>of any financial institution subject to the provisions of KRS 136.500 to 136.575 shall be <br>personally and individually liable jointly and severally, for the taxes under KRS 136.500 <br>to 136.575 in the event that the financial institution is unable to make payment. Neither <br>the corporate dissolution or withdrawal of the financial institution from the <br>Commonwealth nor the cessation of holding any corporate office shall discharge the <br>liability imposed by this section. The personal and individual liability shall apply to each <br>and every person holding a corporate office at the time the taxes become or became due. <br>No person will be personally and individually liable pursuant to this section if that person <br>did not have authority in the management of the business or financial affairs of the <br>financial institution at the time the taxes imposed by KRS 136.500 to 136.575 become or <br>became due. &quot;Taxes&quot; as used in this section includes interest accrued at the rate provided <br>by KRS 131.010(6) and all applicable penalties and fees imposed under the provisions of <br>KRS 136.500 to 136.575 and KRS 131.180, 131.440, and 131.990. Effective: July 15, 1996 <br>History: Created 1996 Ky. Acts ch. 254, sec. 15, effective July 15, 1996.

State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 136-00 > 565

Download pdf
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Page 1 of 1 136.565 Liability of corporate officers for taxes. Notwithstanding any other provisions of KRS 136.500 to 136.575, the president, vice <br>president, secretary, treasurer, or any other person holding any equivalent corporate office <br>of any financial institution subject to the provisions of KRS 136.500 to 136.575 shall be <br>personally and individually liable jointly and severally, for the taxes under KRS 136.500 <br>to 136.575 in the event that the financial institution is unable to make payment. Neither <br>the corporate dissolution or withdrawal of the financial institution from the <br>Commonwealth nor the cessation of holding any corporate office shall discharge the <br>liability imposed by this section. The personal and individual liability shall apply to each <br>and every person holding a corporate office at the time the taxes become or became due. <br>No person will be personally and individually liable pursuant to this section if that person <br>did not have authority in the management of the business or financial affairs of the <br>financial institution at the time the taxes imposed by KRS 136.500 to 136.575 become or <br>became due. &quot;Taxes&quot; as used in this section includes interest accrued at the rate provided <br>by KRS 131.010(6) and all applicable penalties and fees imposed under the provisions of <br>KRS 136.500 to 136.575 and KRS 131.180, 131.440, and 131.990. Effective: July 15, 1996 <br>History: Created 1996 Ky. Acts ch. 254, sec. 15, effective July 15, 1996.