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 395.1320

(g) "SUBSTANTIALLY ALL THE PROPERTY"—TRANSFER OF

395.1320 Partnership Sale to Corporations. Where, in one transaction, substantially all of the assets of a partnership are transferred to three corporations, a portion to each, it is an exempt occasional sale for the reason that each partner had an equal shareholding interest in each corporation. 2/1/57.