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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
S
495.0000 Sale
Annotation 495.0376.500
(a) In General—Definition
495.0376.500 Property Dividend. Corporation A purchases 100% of the stock of Corporation B. After the acquisition, B declares a property dividend of unencumbered fixed assets. The transfer of the assets by a dividend without encumbrance is not a "sale" and tax does not apply. 3/22/88.