International Paper Co. v. Curry

THOMAS, Justice.

This is the first time the question herein involved has been presented to this Court. The Department of Revenue asserts that there is no law date of liability for franchise tax from newly qualified foreign corporations; that if associated foreign corporations merge, consolidate, or otherwise unite, each such resulting corporation is liable for a separate entrance fee and separate franchise tax, even though the business be identical, even though the merged corporation succeed to all the rights and powers of the constituent corporations, and even though the assets constituting…