2009 Kentucky Revised Statutes CHAPTER 138 EXCISE TAXES 138.885 Personal and individual liability of officers of corporation subject to KRS 138.870 to 138.889.
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138.885 Personal and individual liability of officers of corporation subject to KRS
138.870 to 138.889.
The president, vice president, secretary, treasurer, or any other person holding any <br>equivalent corporate office of any corporation subject to the provisions of KRS 138.870 <br>to 138.889, shall be personally and individually liable, both jointly and severally, for the <br>tax, penalty, and interest imposed under KRS 138.872 and 138.889, and neither the <br>corporate dissolution nor withdrawal of the corporation from the state nor the cessation of <br>holding any corporate office shall discharge the liability of any person. The personal and <br>individual liability shall apply to each and every person holding the corporate office at the <br>time the tax becomes or became due. No person shall be personally and individually <br>liable pursuant to KRS 138.870 to 138.889 who had no authority in the management of <br>the business or financial affairs of the corporation at the time that the tax imposed by <br>KRS 138.872 becomes or became due.
Effective: July 15, 1994 <br>History: Created 1994 Ky. Acts ch. 315, sec. 9, effective July 15, 1994.
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