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BTLG Table of Contents > Sales and Use Tax Annotations > C > 170.0000 Collection Of Tax By Board > Annotation 170.0295

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C

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170.0000 Collection of Tax by Board

Annotation 170.0295

(a) In General

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170.0295 Bankruptcy Automatic Stay—Merged Corporation. Corporation A merged into Corporation B pursuant to a statutory merger, but did not notify the Board of the merger. Subsequently, Corporation B filed bankruptcy. The Board may not issue a determination or take collection action against Corporation B for the liabilities of Corporation A which has merged into Corporation B.

In a statutory merger, the surviving corporation succeeds to all the assets and liabilities of the disappearing corporation. Thus, a bankruptcy stay applies to the operations and liabilities of Corporation A as the disappearing corporation of the merger. Any liability should be collected through the proofs of claims filed in the bankruptcy action. 1/10/96.