By Anthony J. Gomez, CPA, former extern to the Honorable John P. Gustafson, Northern District of Ohio at Toledo Click here for Part 1 Click here for Part 2 IV. The Hanging Paragraph’s effect on Interest Rates When the hanging paragraph is applicable, creditors are entitled to the full value of their secured claims as . . . It looks...
From the Editor – Discharge and Dischargeability
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By The Honorable William Houston Brown (Retired)
State’s Single Business Tax of defunct company was nondischargeable excise tax in former officer’s case. Michigan’s Single Business Tax owed by a defunct company, of which the Chapter 7 debtor had been an officer, was an excise tax under § 507(a)(8)(E), and the debtor’s derivative liability on that tax was excepted from discharge under § 523(a)(1)(A). “Because whether a tax is an ‘excise’ or not does not depend upon who is required to pay it, section 507(a)(8)(E)’s . . .
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