(Download) "Nuyen v. Slater" by Supreme Court of Michigan ~ eBook PDF Kindle ePub Free

August 17, 2021

eBook details

Title: Nuyen v. Slater
Author : Supreme Court of Michigan
Release Date : January 06, 1964
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 54 KB

Description

1. L. 1933, c. 405, Â§ 32(c), requires the imposition of the tax prescribed by that chapter on the combined net taxable income of affiliated or related corporations where 90 per cent or more of their voting stock is owned or controlled by the same interests. The word "may" as it appears in the last sentence of the subsection is mandatory, and the tax commission has no discretion as to the imposition of the tax as a combined tax. Such imposition is not a penalty to prevent tax evasion but a provision for a combined tax upon the consolidated income of such corporations.