Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Sales and Use Tax Annotations
(a) IN GENERAL—DEFINITION
495.0376.500 Property Dividend. Corporation A purchases 100% of the stock of Corporation B. After the acquisition, B declares a property dividend of unencumbered fixed assets. The transfer of the assets by a dividend without encumbrance is not a "sale" and tax does not apply. 3/22/88.