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 395.2130

(j) MERGERS AND REORGANIZATIONS

(1) Mergers

395.2130 Statutory Merger—Nonprofit Corporation. A transfer of property pursuant to a merger, under California Corporations Code section 6010 through 6022 (pertaining to nonprofit corporations), is a transfer of property by operation of law and is not a "sale" as defined in Revenue and Taxation Code section 6006. As such, sales tax does not apply to such a transfer. 9/16/92.