Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(i) TRANSFERS AND CONTRIBUTIONS TO NEW CORPORATION OR PARTNERSHIP
395.1841 Commencing Corporation. A corporation may be considered a "commencing corporation" within the meaning of Regulation 1595(b)(4) even though shares of the corporation are not immediately issued upon its formation. Where there is a delay in the issuance of such stock, a facts and circumstance test will be applied to determine whether a corporation is regarded as a "commencing corporation" when it issues stock in exchange for property. 7/15/93.