Massachusetts General Laws ch. 63B sec. 9 – Liability of officers, directors or employees for failure to pay installments of estimated taxes
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Section 9. Any officer, director or employee of any corporation which is required under this chapter to pay an estimated tax, who shall be wilfully responsible for the failure of said corporation to pay any installment of estimated tax due thereunder shall be liable for the amount of tax thereby lost to the commonwealth, and to a penalty of not less than five hundred nor more than five thousand dollars.
Terms Used In Massachusetts General Laws ch. 63B sec. 9
- 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.