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
(l) SALES BETWEEN PARENT AND SUBSIDIARIES
395.2500 Fixed Assets. The sale of fixed assets not needed by a subsidiary to the parent corporation is not exempt from the sales tax under section 6006.5. An occasional sale to be exempt must be of all or substantially all of the seller's assets. Further, the sale of property held by the subsidiary in the course of an activity for which it was required to hold a seller's permit, even though made as an accommodation to the parent corporation, does not detract from the subsidiary's status as a seller required to report all retail sales and pay the sales tax in accordance therewith. 9/17/64.