Rhode Island General Laws 44-26-9. Willful failure
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Any officer, director, or employee of any corporation which is required under this chapter to file a declaration of estimated tax, who is willfully responsible for the failure of the corporation to file the declaration or pay any installment of the advance due under this chapter, or both, is liable for the amount of tax lost to the state and to a penalty of not less than five hundred dollars ($500) nor more than ten thousand dollars ($10,000), or be imprisoned not exceeding one year, or both.
History of Section.
P.L. 1968, ch. 263, art. 11, § 1; P.L. 1986, ch. 103, § 8.
Terms Used In Rhode Island General Laws 44-26-9
- Advance: means a sum equal to one hundred percent (100%) of the full amount of the tax which a corporation estimates it will be required to pay under the provisions of any of the chapters enumerated in subdivision (2) of this subsection, or in any act or acts in lieu, addition or amendment of those chapters. See Rhode Island General Laws 44-26-1
- 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 every corporation, utility, banking institution, insurance company, organization, or association subject to taxation under chapters 11, 12, 13, 14, 15, and 17 of this title, § 27-3-38, or under any special act or acts in lieu of the provisions of these chapters and section, or in addition to or amendment of these chapters and section. See Rhode Island General Laws 44-26-1