Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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C

170.0000 COLLECTION OF TAX BY BOARD

Annotation 170.1212

(b) LIABILITY OF CORPORATE OFFICER

170.1212 Bankruptcy Stay—Suspended Corporation. The Franchise Tax Board (FTB) suspended a corporation. Subsequently, the corporation filed for bankruptcy. It is not a violation of the automatic stay to continue the suspension during bankruptcy proceedings. Therefore, if the corporation continues to do business during the bankruptcy proceedings and while its corporate powers have been suspended by the FTB, dual determinations may be issued against the corporate officers for post petition liabilities and post confirmation debt. 12/11/95.