Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


A    B    C    D    E    F    G    H    I    J    L    M    N    O    P    R    S    T    U    V    W    X   

O

395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595

Annotation 395.0020

(a) IN GENERAL

395.0020 Printing Press Acquired, Stored, and Resold by Printer. A printing press purchased by a printing company at a bankruptcy sale and stored in a warehouse for resale for a period of four years may be subjected to the use tax upon the transfer of the press to a third party.

The printing company which claimed the exemption from tax for four years cannot claim the statute of limitations on the basis that the resale of a printing press is not within the scope of business of a printing company. 9/22/64.