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
395.1924 Joint Venture. Two parties participated in performing construction contracts. They were found not to have formed a joint venture because:
(1) There was no formal joint venture agreement.
(2) The parties did not share profits and losses.
(3) The accounting entries were not consistent with the existence of a joint venture.
(4) Only one of the two parties actually entered into a contract with the general contractor.
(5) The participation of one of the parties was limited to providing materials.
(6) One party was created to carry on a particular activity rather than for the purpose of engaging in a joint venture. 3/30/76.