Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2016
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(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.