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 395.2055

(j) MERGERS AND REORGANIZATIONS

(1) Mergers

Banks, mergers of, see Banks and Insurance Companies

395.2055 Corporation Merges with and into a Limited Partnership. Transfers pursuant to statutory mergers under the California Corporations Code sections 1100 through 1305 are not taxable under Regulation 1595(b)(3) because the transfers are by operation of law and are not considered "sales" under Revenue and Taxation Code section 6006. A transfer of property pursuant to a merger of a corporation with and into a limited partnership under Corporations Code sections 15678.1 through 15678.8 is also a transfer of property by operation of law that is not a "sale" as defined in Revenue and Taxation Code section 6006. Thus, such transfers are not taxable. 4/18/94.