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Business Taxes Law Guide—Revision 2024
Sales and Use Tax Annotations
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395.0000 Occasional Sales—Sale of a Business—Business Reorganization—Regulation 1595
Annotation 395.0014
(a) In General
395.0014 Lease Transactions. Under general law, the term "transfer" relates to a transfer from one person to another and not to a transfer of some lesser interest, such as a bailment for hire. The "transfers" contained in Regulation 1595(b)(2) apply only to outright sales of property from one entity to another. Thus, a lease or rental of tangible personal property between entities of common ownership cannot qualify as an occasional sale under Regulation 1595(b)(2). 8/12/71.