STC, Inc. v. Department of Treasury

Petitioner, S.T.C., Incorporated, appeals as of right from a decision upholding a successor liability tax assessment levied by respondent, Michigan Department of Treasury, after petitioner purchased a restaurant from Masteau, Inc. We affirm.

I. basic pacts and procedural history

In anticipation of the asset purchase from Masteau, specifically, a McDonald’s restaurant located in Livonia, Michigan, petitioner’s president and owner, Vasant Chapatwala, reviewed the company’s accounting books. In addition to owning several McDonald’s restaurants, Chapatwala has a bachelor’s degree in accounting and,…