Kentucky Statutes 139.185 – Corporate officers, managers of limited liability companies, and partners of registered limited liability partnerships personally liable
Current as of: 2024 | Check for updates
|
Other versions
(1) Notwithstanding any other provisions of this chapter to the contrary, the president, vice president, secretary, treasurer, or any other person holding any equivalent corporate office of any corporation subject to the provisions of this chapter shall be personally and individually liable, both jointly and severally, for the taxes imposed under this chapter, and neither the corporate dissolution nor withdrawal of the corporation from the state nor the cessation of holding any corporate office shall discharge the foregoing liability of any person. The personal and individual liability shall apply to each and every person holding the corporate office at the time the taxes become or became due. No person will be personally and individually liable pursuant to this section who had no authority in the management of the business or financial affairs of the corporation at the time that the taxes imposed by this chapter become or became due. Taxes as used in this section shall include interest accrued at the rate provided by KRS § 139.650 and all applicable penalties imposed under this chapter and all applicable penalties and fees imposed under KRS § 131.180, 131.410 to 131.445, and 131.990.
(2) Notwithstanding any other provisions of this chapter, KRS § 275.150, 362.1-306(3) or predecessor law, or 362.2-404(3) to the contrary, the managers of a limited liability company, the partners of a limited liability partnership, and the general partners of a limited liability limited partnership or any other person holding any equivalent office of a limited liability company, limited liability partnership, or limited liability limited partnership subject to the provisions of this chapter shall be personally and individually liable, both jointly and severally, for the taxes imposed under this chapter. Dissolution, withdrawal of the limited liability company, limited liability partnership, or limited liability limited partnership from the state, or the cessation of holding any office shall not discharge the liability of any person. The personal and individual liability shall apply to each and every manager of a limited liability company, partner of a limited liability partnership, and the general partners of a limited liability limited partnership at the time the taxes become or became due. No person shall be personally and individually liable under this subsection who had no authority to collect, truthfully account for, or pay over any tax imposed by this chapter at the time that the taxes imposed by this chapter become or became due. “Taxes” as used in this section shall include interest accrued at the rate provided by KRS § 131.183, all applicable penalties imposed under this chapter, and all applicable penalties and fees imposed under KRS § 131.180, 131.410 to 131.445, and 131.990.
Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 149, sec. 201, effective July 12, 2006. — Amended 2002 Ky. Acts ch. 366, sec. 16, effective January 1, 2003. — Amended
1994 Ky. Acts ch. 65, sec. 16, effective July 15, 1994. — Created 1988 Ky. Acts ch.
322, sec. 9, effective July 15, 1988.
Legislative Research Commission Note (1/1/2003). The amendments made in 2002 Ky.
Acts ch. 366, sec. 16, which created subsection (2) of this statute, “apply retroactively to July 15, 1994.” 2002 Ky. Acts ch. 366, sec. 19.
(2) Notwithstanding any other provisions of this chapter, KRS § 275.150, 362.1-306(3) or predecessor law, or 362.2-404(3) to the contrary, the managers of a limited liability company, the partners of a limited liability partnership, and the general partners of a limited liability limited partnership or any other person holding any equivalent office of a limited liability company, limited liability partnership, or limited liability limited partnership subject to the provisions of this chapter shall be personally and individually liable, both jointly and severally, for the taxes imposed under this chapter. Dissolution, withdrawal of the limited liability company, limited liability partnership, or limited liability limited partnership from the state, or the cessation of holding any office shall not discharge the liability of any person. The personal and individual liability shall apply to each and every manager of a limited liability company, partner of a limited liability partnership, and the general partners of a limited liability limited partnership at the time the taxes become or became due. No person shall be personally and individually liable under this subsection who had no authority to collect, truthfully account for, or pay over any tax imposed by this chapter at the time that the taxes imposed by this chapter become or became due. “Taxes” as used in this section shall include interest accrued at the rate provided by KRS § 131.183, all applicable penalties imposed under this chapter, and all applicable penalties and fees imposed under KRS § 131.180, 131.410 to 131.445, and 131.990.
Terms Used In Kentucky Statutes 139.185
- Business: includes any activity engaged in by any person or caused to be engaged in by that person with the object of gain, benefit, or advantage, either direct or indirect. See Kentucky Statutes 139.010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- 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: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
- Person: includes any individual, firm, copartnership, joint venture, association, social club, fraternal organization, corporation, estate, trust, business trust, receiver, trustee, syndicate, cooperative, assignee, governmental unit or agency, or any other group or combination acting as a unit. See Kentucky Statutes 139.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 149, sec. 201, effective July 12, 2006. — Amended 2002 Ky. Acts ch. 366, sec. 16, effective January 1, 2003. — Amended
1994 Ky. Acts ch. 65, sec. 16, effective July 15, 1994. — Created 1988 Ky. Acts ch.
322, sec. 9, effective July 15, 1988.
Legislative Research Commission Note (1/1/2003). The amendments made in 2002 Ky.
Acts ch. 366, sec. 16, which created subsection (2) of this statute, “apply retroactively to July 15, 1994.” 2002 Ky. Acts ch. 366, sec. 19.