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
395.1720 Single Sale to Several Entities. Where in one transaction, substantially all the property of an individual's business is transferred to two corporations, a portion to each, it is an exempt occasional sale as the individual involved was the sole shareholder of both corporations. 2/18/57.