Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2015
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(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.