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
(h) OWNERSHIP "SUBSTANTIALLY SIMILAR"—"REAL OR ULTIMATE" OWNERSHIP
395.1578 Community Property. A corporation is owned as community property by a husband and wife, although each hold 50 percent of the stock in his or her own name. On dissolution of the marriage, the husband and wife are each awarded 50 percent of the net assets in the corporation in the property settlement. The distribution of the corporate assets is exempt as a transfer in which the real or ultimate ownership is substantially unchanged. 7/28/94.