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
(f) SALE OF A BUSINESS GENERALLY
395.1080 Discontinuance of Business—Sales after. When a business requiring the holding of a seller's permit is sold, the sale of the equipment used in the business is not an exempt occasional sale even though at the time of the sale the business had been discontinued. The sale is nevertheless, a sale of property held or used in the course of an activity for which a seller's permit is required. In any event, the last sale may be one of a series of sales, particularly if there were prior equipment sales. 8/28/57.