Suspended Corporation: Assignee Cannot Enforce Judgment

  Revenue and Taxation Code § 23301 provides that the corporate powers, rights and privileges of a domestic taxpayer may be suspended if it fails to pay any tax, penalty, or interest that is due and payable to the Franchise Tax Board.  Except for filing an application for tax-exempt status or amending the articles of incorporation to establish a new corporate name, a suspended corporation is disqualified from exercising any right, power or privilege. Continue reading