GEORGE ROSE SMITH, Justice.
The issue here is the appellee's liability for state income tax. On May 31, 1966, the appellee, an Arkansas corporation that had done business since 1882, filed its certificate of dissolution with the Secretary of State. By the terms of the statute the corporation was thereupon dissolved. Ark.Stat.Ann. § 64-902 (Repl.1966). Later in the same day the company, pursuant to its plan of liquidation, sold its assets for more than their book...
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