Lloyd T. Asbury, Attorney at Law, P.A. - Page 8

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                  duplicate for each docket number involving that                     
                  party, of any change in that information.                           
             Under Rule 60(c), the capacity of a corporation to litigate              
             in this Court is determined by the law of the State in                   
             which it was organized.  This has been the rule in this                  
             Court and in our predecessor, the Board of Tax Appeals,                  
             since 1926.  See Great Falls Bonding Agency, Inc. v.                     
             Commissioner, 63 T.C. 304, 306-307 (1974).                               
                  Petitioner was organized under the laws of the State                
             of Florida.  Therefore, petitioner’s capacity to file a                  
             petition in this Court seeking redetermination of the tax                
             deficiency underlying this action is governed by the law of              
             the State of Florida.  See Rule 60(c).                                   
                  Two provisions of the Florida Statutes are pertinent                
             to our decision.  Fla. Stat. Ann. sec. 607.1405, “Effect of              
             dissolution”, provides, in relevant part:                                
                       (1) A dissolved corporation continues its                      
                  corporate existence but may not carry on any                        
                  business except that appropriate to wind up and                     
                  liquidate its business and affairs, * * *                           
                        *     *     *     *     *     *     *                         
                       (2) Dissolution of a corporation does not:                     
                       (a) Transfer title to the corporation's                        
                       property;                                                      
                        *     *     *     *     *     *     *                         
                       (c) Subject its directors or officers                          
                       to standards of conduct different from                         
                       those prescribed in ss. 607.0801-                              





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