Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


A    B    C    D    E    F    G    H    I    J    L    M    N    O    P    R    S    T    U    V    W    X   

O

395.0000 OCCASIONAL SALES—SALE OF A BUSINESS—BUSINESS REORGANIZATION—Regulation 1595

Annotation 395.2560

(l) SALES BETWEEN PARENT AND SUBSIDIARIES

395.2560 Used Equipment. The transfer of used equipment at its depreciated book value to a wholly owned subsidiary is not exempt as an occasional sale, unless it is a transfer of all or substantially all of the property held or used by the transferor in an activity requiring the holding of a seller's permit. If the parent corporation purchased the equipment tax paid, no tax liability is incurred by the loan or rental of the equipment to the subsidiary. 5/16/55.