Whenever any corporation has been dissolved or the assets of the corporation for any reason have passed entirely from the control of the corporation into the possession of its former stockholders or other persons without the payment of income taxes due the state, the commissioner shall have the right to bring action against any or all persons possessing the assets for the collection of any income taxes that may be due the state up to the value of the assets. If the assets have come into the possession of more than one person, each person shall have the right to prorate the amount of the tax according to the value of the assets coming into each person’s possession.
History. Code 1933, § 92-3315, enacted by Ga. L. 1937, p. 109, § 20; Code 1933, § 91A-3807, enacted by Ga. L. 1978, p. 309, § 2.
Cross references.
Dissolution of business corporations generally, § 14-2-1401 et seq.
Structure Georgia Code
Title 48 - Revenue and Taxation
Article 4 - Payment: Deficiencies, Assessment, and Collection
§ 48-7-80. Time and Place of Payment of Tax on Basis of Calendar or Fiscal Year
§ 48-7-83. Action for Collection of Tax Out of Assets of Dissolved Corporation; Procedure
§ 48-7-84. Actions in Restraint of Assessment or Collection of Income Tax