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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 395.1700
(h) Ownership "Substantially Similar"—"Real or Ultimate" Ownership
395.1700 Single Sale to Several Entities. A sale by a corporation would be exempt as an occasional sale under section 6006.5(b) where substantially all of its working assets are transferred in a single transaction to three separate affiliated corporations having substantially the same ownership as the transferor. 5/17/62.