Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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S

535.0000 SUCCESSOR'S LIABILITY—Regulation 1702

Annotation 535.0092

535.0092 Transfer of Membership Interests in a Limited Liability Company. A limited liability company ("LLC") does not terminate upon transfer of membership interests unless specified in an agreement of the members. Therefore, in the absence of such an agreement, the transfer of a LLC membership interest is treated as a transfer of intangible personal property the sale of which is not subject to sales tax. 12/29/00. (2002–1).