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Business Taxes Law Guide—Revision 2024
Sales and Use Tax Annotations
A B C D E F G H I J L M N O P R S T U V W X
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395.0000 Occasional Sales—Sale of a Business—Business Reorganization—Regulation 1595
Annotation 395.1620
(h) Ownership "Substantially Similar"—"Real or Ultimate" Ownership
395.1620 Limited Partnership. Sales of assets from sole proprietorship to a limited partnership constitutes a change in the real or ultimate ownership of the business for purpose of applying the "occasional sale" rule, since the limited partner has substantial rights in the business. 8/7/63.