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Receivers - Liability For Corporate Franchise Taxes Accruing After Appointment
Receivers - Liability For Corporate Franchise Taxes Accruing After Appointment
Michigan Law Review
In a comment appearing in the May issue of the Review (30 MICH. L. REV. 1094), this writer considered the existing conflict of decisions on the question of a receiver's liability for corporate franchise taxes accruing during the period of receivership. The opposing views, as represented by In Re Detroit Properties Co., 254 Mich. 523, 236 N. W. 850 (1931), and Michigan Trust Co. v. Michigan (C. C. A. 6th, 1931) 52 F.(2d) 842, were compared and evaluated. Both decisions were based on the same Michigan statute (2 Comp. Laws 1929, sec. 10140). It was pointed out that the …
Receivers -Liability For Corporate Franchise Taxes Accruing After Appointment
Receivers -Liability For Corporate Franchise Taxes Accruing After Appointment
Michigan Law Review
General business conditions of the last three years have made the field of receivership law an extremely interesting and important one to that portion of the bar which has been picking up the pieces left by the debacle of 1929. The widespread liquidation and dissolution of great business organizations has been effected in large part through the medium of the receivership. One of the more difficult problems arising in connection with such receiverships has been the liability of the receiver for franchise taxes. Such taxes have been held to be not property levies but excises on the privilege to carry …