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 395.2150

(j) MERGERS AND REORGANIZATIONS

(1) Mergers

395.2150 Statutory Merger—Use of Property Received in. The surviving corporation in a statutory merger becomes subject to use tax when it acquires from the merged corporation and uses equipment previously acquired by the merged corporation ex-tax for resale and leased to the surviving corporation. The person of the merged corporation continues in the survivor and the ex-tax status of the equipment and the obligation of the merged corporation with respect to it carries over to the survivor. 9/23/71.