Indiana Code 6-6-1.1-514. Sale or transfer of distributor’s business; liability of purchaser or transferee for any accrued unpaid tax, penalty, and interest
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Indiana Code 6-6-1.1-514
- Administrator: means the administrative head of the department of state revenue or the administrator's designee. See Indiana Code 6-6-1.1-103
- Distributor: means a person who first receives gasoline in Indiana. See Indiana Code 6-6-1.1-103
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 514. If a distributor fails to give notice to the administrator as required by section 512 of this chapter, the purchaser or transferee of his business is liable to the state for all unpaid tax, penalty, and interest accrued under this chapter against the distributor through the date of sale or transfer. However, the purchaser’s or transferee’s liability is limited to the value of the property and business acquired from the distributor.
As added by Acts 1979, P.L.79, SEC.1.