Broadmoor Apartments, Inc. v. Collector of Revenue

LANDRY, Judge.

Petitioners Broadmoor Apartments, Inc. (Broadmoor), Sherwood Park Apartments, Inc. (Sherwood) and Regency Apartments, Inc. (Regency), sometimes hereinafter referred to as Appellants, appeal from judgment of the trial court sustaining a decision of the Board of Tax Appeal assessing Appellants for corporate franchise taxes for the taxable years 1969,1970, and 1971. We affirm.

The sole question involved on appeal is whether funds borrowed by a corporation acting as agent are borrowed funds within the purview of La.R.S. 47:601 and 603 and therefore to be considered in determining the…