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 395.1060

(f) SALE OF A BUSINESS GENERALLY

395.1060 Discontinuance of Business—Sales after. Individual sales of equipment at the time of discontinuance of a selling activity are subject to tax. However, if a sale of equipment which had one time been used in activity requiring a seller's permit is retained at the time the activity is terminated with no present intent of selling it, a later sale of that equipment is not subject to tax. 3/26/58.