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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 395.2030
(i) Transfers and Contributions to New Corporation or Partnership
395.2030 Transfer of One-Half Interest in Airplane to a Commencing Corp. A company's transfer of its one-half interest in an airplane to a commencing corporation solely in exchange for that corporation's first issue of stock would not be a sale subject to sales or use tax. 12/11/92.