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 395.2240

(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.