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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 395.1524
(g) "Substantially all the Property"—Transfer of
395.1524 Substantially Same Ownership. Some divisions of Company A are engaged in selling activities requiring the holding of a seller's permit. The transfer of all the assets, including all the vehicles, of a nonselling division of Company A to an existing corporation wholly owned by Company A does not qualify for the section 6281 exemption. section 6281 requires that substantially all the assets held or used in the course of "business activities" be transferred in their entirety (substantially all of Company A assets, not just the assets of one division). 9/14/84.