Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2016
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(k) DISSOLUTION; LIQUIDATION; DISTRIBUTION OF ASSETS
395.2240 Distribution of Equipment in Lieu of Profits. The sales tax applies to the distribution of equipment other than as a step in liquidation from a joint venture consisting of four partners to two of the partners who are accepting the equipment in lieu of cash as their prorated share of profits. 8/21/69.