United States v. Updike

McDERMOTT, District Judge.

This action was filed April 28, 1927, to impress a trust upon certain assets of the Updike Grain Company on account of taxes owing the government, and to require the defendants to account for such taxes up to the value of the corporate assets received by them. The taxes in question are excess profits taxes under the law of October 3, 1917, are for the taxable period ending June 30, 1917, and amount to $373,911.54. The corporation dis« continued business June 30, 1917, and was formally dissolved August 27, 1917. Assets far in excess of the tax claimed were…