DANHOF, C.J.
In this appeal, we address the question whether a Michigan resident is entitled to take into account his distributive share of losses sustained by an out-of-state limited partnership in computing his income subject to the Michigan income tax.
During 1969 and 1970, plaintiffs, Carson C. Grunewald and Alfred C. Wortley, Jr., Michigan residents, were limited partners in Liberty Park Development Company (Liberty Park). Liberty Park was a limited partnership...
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