Video: KiOR Misses Deadline, Now on the Hook for Full Tax Bill
COLUMBUS, Miss. (WCBI) – As expected, biofuels maker KiOR missed Monday’s deadline to pay 1.1 million dollars in Columbus and Lowndes County property taxes. The missed deadline voids the tax incentive deal the company had with the local governments and doubles the tax bill to more than two million.
Local government leaders say they hope they’ll get the money at some point in the future, but admit it may be difficult given bankruptcy filings, legal wrangling and the naming of a receiver for the Columbus plant. If all the court issues aren’t resolved by then, the property could be sold for the taxes in August but lawyers say that could only add to the legal red tape.
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