Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2014
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(a) IN GENERAL
395.0014 Lease Transactions. Under general law, the term "transfer" relates to a transfer from one person to another and not to a transfer of some lesser interest, such as a bailment for hire. The "transfers" contained in Regulation 1595(b)(2) apply only to outright sales of property from one entity to another. Thus, a lease or rental of tangible personal property between entities of common ownership cannot qualify as an occasional sale under Regulation 1595(b)(2). 8/12/71.