Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(c) SERIES OF SALES—"NUMBER, SCOPE AND CHARACTER"
395.0518 Horse Breeding and Racing. A taxpayer is in the business of breeding and racing horses. In the course of its business it makes incidental sales of horses to other persons engaged in the same business. It also makes sales of "culls," i.e., horses found not to be suitable for the taxpayer's purposes. The taxpayer is not regarded as being primarily in the business of selling horses. Nevertheless, if the taxpayer makes three or more sales within a twelve-month period, including sales in interstate commerce, tax will apply to the retail sales which are not otherwise exempt. 2/26/93.