Ewald Iron Co. v. Commonwealth
| Decision Date | 24 February 1911 |
| Citation | 134 S.W. 481,142 Ky. 465 |
| Parties | EWALD IRON CO. v. COMMONWEALTH. |
| Court | Kentucky Court of Appeals |
Extended opinion.
For former opinion, see 131 S.W. 774.
In fixing two years as a reasonable time for a corporation to close up its business, the court followed the statute regulating the settlement of the estates of deceased persons. Ky. St. §§ 3858, 3859 (Russell's St. §§ 3888, 3889). The corporation expired for business purposes on November 5, 1905. The property held in its name should be taxed in its name and as its property until November 5, 1907. After that time it should be taxed in the name of L. P. Ewald, and as his property. It is important in these tax matters that a definite rule be laid down, that the parties may conform to it and avoid litigation, cost, and penalties.
The former opinion (140 Ky. 692, 131 S.W. 774) is extended as above indicated.
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