Tri-Financial Corp. v. Department of Revenue

In this appeal we are faced with the determination of whether or not the appellant, Tri-Financial Corporation, is a “successor” to Master Coaters-Longview, Inc., and therefore responsible for Master Coaters’ tax liability to the State of Washington under the provisions of ROW 82.32.140. We hold that Tri-Financial was a “successor” within the meaning of the statute concerned.

Master Coaters-Longview, Inc. was engaged in the business of prefinishing wood panels in Longview, Washington. In October of 1964, Master Coaters leased a complete pre-finishing system from Quality Leasing Company.…