March 4, 1981

You were appointed a receiver of *********** a Massachusetts corporation which was operating as a debtor in possession under a proposed reorganization under Chapter XI of the Bankruptcy Act. Subsequently the corporation was adjudicated bankrupt and you were appointed the trustee in bankruptcy. You inquire as to your responsibilities for reporting and paying Massachusetts taxes as a Chapter 11 receiver and as a trustee in bankruptcy.

Income received by fiduciaries, including trustees in bankruptcy, receivers and assignees for the benefit of creditors, is subject to taxation under Chapter 62. (M.G.L. c. 62, ss. 13 and 25). Section 6 of Chapter 62C requires every fiduciary receiving income taxable under Chapter 62, including a trustee in bankruptcy but excluding a receiver of a domestic corporation, to file an annual return of his taxable income.

You should file a Massachusetts Corporation Excise Return (Form 355A) and pay the corporation excise through the period in which you were a receiver of the corporation.

Income which you receive as trustee in bankruptcy is subject to Massachusetts income taxation under Chapter 62 and should be reported on a Fiduciary Tax Return (Form 2) for each taxable year or fraction thereof.

Very truly yours

/s/L. Joyce Hampers

L. Joyce Hampers

Commissioner of Revenue

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LR 81-21