Priority of Tax Lien

(redirected from Tax Lien Priority)

Priority of Tax Lien

The legal requirement that, in the event of liquidation of a person's or company's assets, all unpaid taxes must be paid before any other creditors receive any payment at all. See also: Absolute Priority Rule.
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The High Court's decision to deny the appeal lays to rest the legal assault on special tax lien priority," said Feldman.