Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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S

495.0000 SALE

Annotation 495.0420

(a) IN GENERAL—DEFINITION

495.0420 Repurchase. Where, by agreement, a business is sold with an option to repurchase, and such option is subsequently exercised, each transaction constitutes a sale for sales tax purposes. 10/24/56.