Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2014
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(g) "SUBSTANTIALLY ALL THE PROPERTY"—TRANSFER OF
395.1500 Real Property. In determining whether all or substantially all of the property sold is held or used in connection with an activity for which a seller's permit is required, we do not take into consideration real property. Thus, where a partnership transferred to a new corporation all of its assets except building and land, and the ultimate owners of 90 percent of the corporation's property were the owners of all of the property prior to transfer, the requirements of section 6006.5(b) are met. 1/24/55.