67-5-1112 - Payment of tax by corporation. - Tennessee Statutes

67-5-1112. Payment of tax by corporation.

For the purpose of collecting such taxes, and in addition to any other laws of this state relative to the imposition and collection of taxes, it is the duty of such corporation to pay the taxes due upon such stock, regardless of any dividend or earnings belonging to such stockholder, a prior lien being declared on all such stock, on and after January 10 of each year, and the corporation shall be subrogated to such prior lien for the purpose of enforcing repayment of any taxes that may be so paid for the account of any such stockholder.

[Acts 1907, ch. 602, § 24; Shan., § 792a2; Code 1932, § 1402; T.C.A. (orig. ed.), § 67-727.]