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BTLG Table of Contents > Sales and Use Tax Annotations > O > 395.0000 Occasional Sales > Annotation 395.1650

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395.0000 Occasional Sales—Sale of a Business—Business Reorganization—Regulation 1595

Annotation 395.1650

(h) Ownership "Substantially Similar"—"Real or Ultimate" Ownership

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395.1650 Real and Ultimate Ownership. For purposes of determining whether a sale is an occasional sale, the real and ultimate ownership is not affected by changes only in rights to manage or to participate in profits and losses. Real and ultimate ownership of the property after a transfer is substantially similar to that prior to the transfer if after the transfer ownership rights in the event of liquidation of the business are substantially similar to those prior to the transfer. 2/26/75.