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 395.1760

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

395.1760 Single Sale to Several Entities. Where a sole proprietor sells a one-fifth interest in his business to each of four parties, payable partly in cash and partly in notes, a taxable sale results within the meaning of section 6006.5 6/22/53.