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 395.1600

(h) OWNERSHIP "SUBSTANTIALLY SIMILAR"—"REAL OR ULTIMATE" OWNERSHIP

395.1600 Husband and Wife Partnership—Death of Wife. Where a husband and wife partnership operate a business up to date of death of wife who leaves her 50 percent interest to her children, and subsequently a corporation is formed, the sole stockholders being the surviving husband and all of said children, the transfer of the assets to the corporation does not constitute a change in ownership under section 6006.5(b). 3/25/54.