In a statement the SFL said it regretted the decision but had acted to protect the "integrity" of the league.
"We are of the opinion that lessons are not being learned," said the statement. "For example, clubs have to realise that, going forward, they cannot treat their [tax] obligations as something akin to a credit card."
The punishment leaves the former European Cup semi-finalists adrift at the bottom of Scotland's First Division with minus 11 points, 20 points behind the nearest team Morton, with 25 league games left to play.
The club, which has debts of £3.21 million according to administrator Bryan Jackson, was also given a transfer embargo and told its future would be reconsidered on March 31 next year if it was still in administration.
