§ 57-40.2-15.2 — Governor and manager liability

North Dakota § 57-40.2-15.2

• Jurisdiction: North Dakota
• Title 57: Taxation
• Ch. 57-40.2: Use Tax

Text

1. If a limited liability company fails for any reason to file the required returns or to pay
the taxes due under this chapter, the governor, manager, or member of a
member-controlled limited liability company, jointly or severally charged with the
responsibility of supervising the preparation of the returns and payments, is personally
liable for the failure. The dissolution of a limited liability company does not discharge a
governor's, manager's, or member's liability for a prior failure of the limited liability
company to file a return or remit the tax due. The sum due for such a liability may be
assessed and collected under the provisions of this chapter.
2. If the governors, managers, or members of a limited liability company elect not to be
personally liable for the failure to file the required returns or to pay the tax due, the
limited liability company must make a cash deposit or post and maintain with the
commissioner a bond or undertaking executed by a surety company authorized to do
business in this state. The cash deposit, bond, or undertaking must be in an amount
equal to the estimated annual use tax liability of the limited liability company.