Tennessee Code 67-4-2117 – Collection – Dissolved entities
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 67-4-2117
- Commissioner: means the commissioner of revenue. See Tennessee Code 67-4-2004
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- taxpayer: means every corporation, subchapter S corporation, limited liability company, professional limited liability company, registered limited liability partnership, professional registered limited liability partnership, limited partnership, cooperative, joint-stock association, business trust, regulated investment company, REIT, state-chartered or national bank, or state-chartered or federally chartered savings and loan association. See Tennessee Code 67-4-2004
The commissioner is empowered and it is the commissioner’s duty to collect the tax, together with penalty and interest, levied under this part from any officer, stockholder, partner, member, principal, or employee of a taxpayer that has dissolved or has been liquidated, at a time such taxpayer has refused or failed to pay the franchise tax levied under this part, and such individual has received property belonging to the taxpayer, but such collection shall be limited to the value of the property received.