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CORP. & SEC. COMM. v. McLOUTH STEEL CORP.

Docket No. 1,886.

7 Mich. App. 410 (1967)

151 N.W.2d 905

CORPORATION & SECURITIES COMMISSION v. McLOUTH STEEL CORPORATION.

Michigan Court of Appeals.

Leave to appeal denied October 4, 1967.

Attorney(s) appearing for the Case

Frank J. Kelley, Attorney General, Robert A. Derengoski, Solicitor General, and T. Carl Holbrook and William D. Dexter, Assistant Attorneys General, for plaintiff.

Dickinson, Wright, McKean & Cudlip (William B. Cudlip, T. Donald Wade and W. Gerald Warren, of counsel), for defendant McLouth Steel Corporation.

Leave to appeal denied October 4, 1967. See 379 Mich. 782.

J.H. GILLIS, J.

The question that again confronts this Court deals with the proper computation of the Michigan franchise fee.1 Defendant McLouth Steel Corporation contends that the balance sheet item captioned "reserve for Federal income taxes" is not includable in surplus for franchise fee computation purposes. Defendant further...

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