By Nicholas A. Mirkay, Professor of Law, Creighton University School of Law
In a 5-4 decision issued on May 14, 2012, the U.S. Supreme Court ruled that federal income taxes resulting from the post-petition sale or other disposition of farm assets are not “incurred by the estate” under section 503(b) of the Bankruptcy Code (all “section” references are to the Bankruptcy Code unless otherwise indicated) and, thus, are neither collectible nor dischargeable in a Chapter 12 plan. Because the Chapter 12 estate is . . .
It looks like you are not signed in or registered! This content is only available to members.
Or Sign In Below: