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 395.2080

(j) MERGERS AND REORGANIZATIONS

(1) Mergers

395.2080 Merger of Nonprofit Cooperative Associations. Nonprofit cooperative associations organized under Chapter 4, Div. 6, of the Agricultural Code, are deemed to be corporations. The merger of two or more is required to be made in the manner prescribed by the general laws of the state covering domestic corporations. Accordingly, the transfer of assets from a merged corporation to the constituent pursuant to a merger made in conformity with the provisions of the Corporations Code was not a taxable retail sale. 11/17/64.