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 395.1220

(f) SALE OF A BUSINESS GENERALLY

395.1220 Purchase and Simultaneous Sale. Purchase and simultaneous sale of business is an occasional sale by purchaser if he is not otherwise engaged in a business requiring the holding of a seller's permit although the sale to the purchaser was taxable. The sale to the purchaser occurred at the close of escrow where the purchaser did not take physical possession of the property, although pursuant to the agreement of sale the first seller held the property for the purchaser between a specified date and the close of escrow. 9/30/64.