Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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S

495.0000 SALE

Annotation 495.0740

(d) TRANSFERS BETWEEN RELATED LEGAL ENTITIES

495.0740 Transfer to Stockholder. There is a transfer of property for a consideration, creating a taxable sale, when a corporation transfers equipment to a stockholder in return for his stock which stock is then retired or canceled by the corporation. 8/24/53.