Arizona Laws 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:
Terms Used In Arizona Laws 43-1152
- Assessment: includes a proposed additional assessment. See Arizona Laws 43-104
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a corporation, joint stock company, bank, insurance company, business trust or so-called "Massachusetts trust" investment company or building and loan association and any other association whether incorporated or unincorporated. See Arizona Laws 43-104
- Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
- Fraud: Intentional deception resulting in injury to another.
- Income year: means "taxable year". See Arizona Laws 43-104
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
- Tax: means the taxes imposed under this title. See Arizona Laws 43-104
- taxpayer: means a corporation. See Arizona Laws 43-1101
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.