Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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

Annotation 395.0820

(d) PART OWNERSHIP, SALE OF

395.0820 Partnership—Sale of Interests. A simultaneous transfer by all of the partners of their respective partnership interests for a consideration constitutes a sale within the meaning of section 6006(a). Although in form the partners are making transfers of their respective "interests" in the partnerships, the transfers are in fact transfers of specific partnerships property to a third person. 11/16/59.