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 395.2265

(k) DISSOLUTION; LIQUIDATION; DISTRIBUTION OF ASSETS

395.2265 Dividend in Kind. Transfer of all property of a division of a corporation to a sole shareholder as a dividend is considered a sale to the sole shareholder if the sole shareholder assumes any liabilities of the corporation. The transfer of the assets to the sole stockholder is a sale because the sole stockholder gave consideration for the assets by assuming the liabilities. 4/2/93.