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 395.2030

(i) TRANSFERS AND CONTRIBUTIONS TO NEW CORPORATION OR PARTNERSHIP

395.2030 Transfer of One-Half Interest in Airplane to a Commencing Corp. A company's transfer of its one-half interest in an airplane to a commencing corporation solely in exchange for that corporation's first issue of stock would not be a sale subject to sales or use tax. 12/11/92.