4. Revocation for nonsegregation. Upon the expiration of the 5-day period designated in subsection 3, if any person who is a "retailer" under Part 3 or a fuel supplier, distributor or importer subject to Part 5 fails to make the required payments on account to the State Tax Assessor, the State Tax Assessor assessor may revoke any registration certificate which that has been issued to that person. The revocation shall be is reviewable in accordance with section 151.

5. Stay of running of period of limitation. The running of the period of limitation for assessment of trust fund taxes against a responsible officer, director, member, agent or employee of a person who that has collected those taxes is stayed for the period of time, plus 120 days, during which an assessment against that person is subject to administrative or judicial review or remains outstanding because that person is the subject of bankruptcy proceedings under the United States Bankruptcy Code.

6. Sale of business; purchaser liable for tax. If a person liable for any trust fund taxes incurred in the course of operating a business sells the business or stock of goods or quits the business, the person shall make a final return and payment within 15 days after the date of selling or quitting the business. The successor, successors or assignees, if any, shall withhold a sufficient amount of the purchase money to cover the amount of those taxes, along with applicable interest and penalties, until such time as the former owner produces a receipt from the State Tax Assessor showing that the taxes have been paid, or a certificate from the State Tax Assessor assessor stating that no trust fund taxes, interest or penalties are due. A purchaser who fails to withhold purchase money is personally liable for the payment of the taxes, penalties and interest accrued and unpaid on account of the operation of the business by the former owner, owners or assignors.

Sec. 8. 36 MRSA §186, as amended by PL 1997, c. 668, §13, is further amended to read:

§186. Interest