PROD. CREDIT ASS'N OF LANSING v. TREASURY DEP'T

Docket No. 66162.

128 Mich. App. 196 (1983)

339 N.W.2d 871

PRODUCTION CREDIT ASSOCIATION OF LANSING v. DEPARTMENT OF TREASURY

Michigan Court of Appeals.

Decided August 17, 1983.


Attorney(s) appearing for the Case

Dickinson, Wright, Moon, Van Dusen & Freeman (by Peter S. Sheldon and Anthony Ilardi, Jr.), for petitioner.

Frank J. Kelley, Attorney General, Louis J. Caruso, Solicitor General, Richard R. Roesch and Charles E. Liken, Assistants Attorney General, for respondent.

Before: MacKENZIE, P.J., and M.J. KELLY and S. EVERETT, JJ.


S. EVERETT, J.

Petitioner has appealed from the order of the Tax Tribunal affirming the determination and redetermination by respondent that there was a deficiency in petitioner's franchise fee liability for the years 1975 and 1976. The sole issue presented is what is the proper method for determining a reserve for losses through loans made in the course of petitioner's business. Such a reserve may be subtracted from the surplus in determining the proper franchise...

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