Kentucky Statutes 142.357 – Liability of corporate officers for taxes imposed by KRS 142.303, 142.307, 142.309, 142.311, 142.314, 142.315, 142.316, 142.361, and 142.363
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Notwithstanding any other provisions of KRS § 142.301 to KRS § 142.363, the president, vice president, secretary, treasurer, or any other person holding any equivalent corporate office of any corporation subject to the provisions of KRS § 142.301 to KRS § 142.363 shall be personally and individually liable jointly and severally, for the taxes imposed under KRS
142.303, 142.307, 142.309, 142.311, 142.314, 142.315, 142.316, 142.361, and 142.363. Neither the corporate dissolution or withdrawal of the corporation from the state nor the cessation of holding any corporate office shall discharge the liability imposed by this section. The personal and individual liability shall apply to each and every person holding a corporate office at the time the taxes become or became due. No person will be personally and individually liable pursuant to this section if that person did not have authority in the management of the business or financial affairs of the corporation at the time the taxes imposed by KRS § 142.303, 142.307, 142.309, 142.311, 142.314, 142.315,
142.316, 142.361, and 142.363. “Taxes” as used in this section shall include interest accrued at the rate provided by KRS § 131.010(6) and all applicable penalties and fees imposed under the provisions of KRS § 142.301 to KRS § 142.363 and KRS § 131.180, 131.440, and 131.990.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 120, sec. 13, effective June 20, 2005. — Amended
1996 Ky. Acts ch. 110, sec. 12, effective August 1, 1996. — Created 1994 Ky. Acts ch. 512, sec. 113, effective July 15, 1994.
142.303, 142.307, 142.309, 142.311, 142.314, 142.315, 142.316, 142.361, and 142.363. Neither the corporate dissolution or withdrawal of the corporation from the state nor the cessation of holding any corporate office shall discharge the liability imposed by this section. The personal and individual liability shall apply to each and every person holding a corporate office at the time the taxes become or became due. No person will be personally and individually liable pursuant to this section if that person did not have authority in the management of the business or financial affairs of the corporation at the time the taxes imposed by KRS § 142.303, 142.307, 142.309, 142.311, 142.314, 142.315,
Terms Used In Kentucky Statutes 142.357
- 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
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
142.316, 142.361, and 142.363. “Taxes” as used in this section shall include interest accrued at the rate provided by KRS § 131.010(6) and all applicable penalties and fees imposed under the provisions of KRS § 142.301 to KRS § 142.363 and KRS § 131.180, 131.440, and 131.990.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 120, sec. 13, effective June 20, 2005. — Amended
1996 Ky. Acts ch. 110, sec. 12, effective August 1, 1996. — Created 1994 Ky. Acts ch. 512, sec. 113, effective July 15, 1994.