Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2014
Sales and Use Tax Annotations
170.0000 COLLECTION OF TAX BY BOARD
(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.