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 395.1720

(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.