Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Sales and Use Tax Annotations


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S

495.0000 SALE

Annotation 495.0780

(d) TRANSFERS BETWEEN RELATED LEGAL ENTITIES

495.0780 Withdrawals of Property by Members of a Joint Venture. A joint venture is similar to a partnership, and the withdrawals of property by the joint venturers and the debiting of their respective advance accounts are transfers of title to tangible personal property for a consideration and, hence, sales of the property transferred. 7/21/53.