Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Sales and Use Tax Annotations
395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595
(k) DISSOLUTION; LIQUIDATION; DISTRIBUTION OF ASSETS
395.2460 Sole Shareholder. Where a corporation did not agree to sell its assets and had no agreement whatsoever with the ultimate purchaser, a liquidation distribution by it to the sole shareholder, followed by a sale of such assets from such shareholder to a new purchaser, constitutes an exempt distribution and an exempt occasional sale. 12/28/53.