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
395.1650 Real and Ultimate Ownership. For purposes of determining whether a sale is an occasional sale, the real and ultimate ownership is not affected by changes only in rights to manage or to participate in profits and losses. Real and ultimate ownership of the property after a transfer is substantially similar to that prior to the transfer if after the transfer ownership rights in the event of liquidation of the business are substantially similar to those prior to the transfer. 2/26/75.