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 395.2296

(k) DISSOLUTION; LIQUIDATION; DISTRIBUTION OF ASSETS

395.2296 Liquidation Sale Versus Liquidation Dividend. Liquidation sales are treated like any other sales. Property distributed to shareholders in kind as a liquidating dividend with no assumption of indebtedness is not a sale since there is no consideration. 2/19/87.