REFERENCE TITLE: taxation; trust income; technical correction

State of Arizona House of Representatives Fifty-second Legislature First Regular Session 2015

HB 2450

Introduced by Representative Olson

 

AN ACT

 

Amending section 43-567, Arizona Revised Statutes; relating to collection of tax.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 43-567, Arizona Revised Statutes, is amended to read:

START_STATUTE43-567.  Lien for tax on trust income

A.  Upon On the recording of an abstract of judgment or a copy thereof by the department with the county recorder of any county for any taxes, interest and penalties due from the grantor of the a trust on income of the trust which that is taxable to the grantor under chapter 13 of this title, and upon on its giving notice of the recording to the fiduciary or fiduciaries of the trust, the amount of the taxes, interest and penalties constitute constitutes a lien upon on all property of the trust in the county owned by the trust and any property acquired before the expiration of the lien.  The lien has the force, effect and priority of a judgment lien.

B.  The notice required to be given by subsection A of this section may be served upon on the fiduciary personally or by mail.  If made by mail, service shall be made by registered mail and shall be addressed to the fiduciary at his the fiduciary's address as it appears in the records of the department. END_STATUTE