Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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C

170.0000 COLLECTION OF TAX BY BOARD

Annotation 170.1300

(b) LIABILITY OF CORPORATE OFFICER

170.1300 Foreclosure Does Not Affect Corporate Officer Liability. A corporation's source of financing foreclosed on the corporation and the business terminated. The corporation had collected sales tax reimbursement from its customers but had failed to pay tax to the Board. The foreclosure and business termination do not prevent the liability of a responsible corporate officer who willfully failed to pay tax to the Board for the tax debt of the corporation. It is immaterial that the corporate business was terminated prior to the date that the tax was required to be paid to the Board. 11/30/93.