Vought Industries, Inc. v. Tracy

[This opinion has been published in Ohio Official Reports at 72 Ohio St.3d 261.] VOUGHT INDUSTRIES, INC. ET AL., APPELLEES, v. TRACY, TAX COMMR., APPELLANT. [Cite as Vought Industries, Inc. v. Tracy,

1995-Ohio-18.] Taxation—Franchise tax—R.C. 5733.06(E) does not apply to a corporation in reorganization under Section 1102, Title 11, U.S. Code. __________________ A corporation in reorganization under Section 1102, Title 11, U.S. Code is not equivalent to a corporation which has been adjudicated bankrupt or for which a receiver has been appointed; therefore, R.C. 5733.06(E), the exemption from…