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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 395.1230
(f) Sale of a Business Generally
395.1230 Research and Development Business. A business which is developing a new computer product does not hold nor is it required to hold a seller's permit. The business sells its assets including work in progress. If the product development had been completed, the business would have engaged in selling it at retail. However, such completion is speculative depending on the success of the development program. Accordingly, the sale of the work in progress in a single transaction is exempt from sales and use tax as an occasional sale. 2/22/89.