Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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

Annotation 395.1200

(f) SALE OF A BUSINESS GENERALLY

395.1200 Manufacturer. A manufacturing concern, all of whose prior sales were made for resale rather than consumption, incurs liability for sales tax upon the sale of its entire assets, measured by the selling price of that tangible personal property held or used in connection with its business activity and sold for use by the purchaser rather than for resale. 8/29/66.