Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595

Annotation 395.1780

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

395.1780 Unsecured Creditor. A purchasing corporation which was an unsecured creditor of the selling corporation is not regarded as "a person holding an interest in the (selling) corporation," and tax is properly applicable to the sale of tangible personal property by the selling corporation. 9/5/52.