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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 395.1760
(h) Ownership "Substantially Similar"—"Real or Ultimate" Ownership
395.1760 Single Sale to Several Entities. Where a sole proprietor sells a one-fifth interest in his business to each of four parties, payable partly in cash and partly in notes, a taxable sale results within the meaning of section 6006.5 6/22/53.