Trust Fund Taxes. Your offer may be rejected if your debt is based on taxes collected from others, but not remitted to the Department as required by law. Trust Fund taxes include sales tax charged and collected from your customers and income taxes withheld from your employee’s wages.
Trust Fund Taxes. The Company shall from time to time pay taxes of any and all kinds whatsoever which at any time are lawfully levied or assessed upon or become payable in respect of its interests in the Trust Fund, the income or any property forming a part thereof. To the extent that any taxes lawfully levied or assessed upon the Trust Fund are not paid by the Company, the Trustee shall contest the validity of such taxes in any manner deemed appropriate by the Company or its counsel, at Company expense, but only if it has received an indemnity bond or other security satisfactory to it to pay any such expense. The Company may itself contest the validity of any such taxes.
