Tennessee Court of Appeals Says Shareholder Is Liable for Unpaid Franchise, Excise Taxes

Tennessee Court of Appeals Says Shareholder Is Liable for Unpaid Franchise, Excise Taxes

Tennessee Court of Appeals

The Tennessee Court of Appeals reversed a judgement that held a shareholder of a dissolved corporation was not personally liable for unpaid franchise and excise taxes after determining that the Department of Revenue's suit against the taxpayer was not barred by statute of limitations provisions and the department was not required to show that a fraudulent conveyance occurred.  

The Tennessee Court of Appeals reversed a judgement that held a shareholder of a dissolved corporation was not personally liable for unpaid franchise and excise taxes after determining that the Department of Revenue's suit against the taxpayer was not barred by statute of limitations provisions and the department was not required to show that a fraudulent conveyance occurred.

The Tennessee Court of Appeals reversed a judgement that held a shareholder of a dissolved corporation was not personally liable for unpaid franchise and excise taxes after determining that the Department of Revenue's suit against the taxpayer was not barred by statute of limitations provisions and the department was not required to show that a fraudulent conveyance was made by the corporation to the taxpayer.

The Tennessee Court of Appeals reversed a judgement that held a shareholder of a dissolved corporation was not personally liable for unpaid franchise and excise taxes after determining that the Department of Revenue's suit against the taxpayer was not barred by statute of limitations provisions and the department was not required to show that a fraudulent conveyance was made by the corporation to the taxpayer.