Sec. 12-588. Conduct of business subject to tax by fiduciary.
Sec. 12-588. Conduct of business subject to tax by fiduciary. Any fiduciary who
conducts or is liquidating the business or is selling the assets of any company subject
to tax under section 12-587 shall be subject to requirements related to filing returns and
to payment of taxes imposed under said section in the same manner and to the same
extent as if the business were being conducted or liquidated or assets sold by agents or
officers of such company. The return of any fiduciary who has been appointed during
a taxable quarter or following such quarter but on or before the last day upon which a
return may be filed for such quarter without penalty, shall include complete information
with respect to that part of such quarter during which the company conducted the business as well as that part of such quarter in which such fiduciary was acting and taxes
shall be paid by such fiduciary for both parts of such quarter.
(P.A. 80-71, S. 2, 30.)
History: P.A. 80-71 effective July 1, 1980, and applicable to calendar quarters commencing on or after that date.