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1. comptroller.texas.gov › taxes › publicationsBuying an Existing Business - Texas Comptroller of Public ...

   comptroller.texas.gov › taxes › publications

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   Due to changes made by Senate Bill 873, 87th Texas Legislature, the seller and purchaser of the business or assets must jointly request the Form 86-114, Joint Request for Certificate of No Tax Due (PDF). All fields must be completed and the form must be signed by authorized representatives of both the seller and the purchaser.

2. comptroller.texas.gov › forms › 01-91701-917 Statement of Occasional Sale - Texas Comptroller of ...

   comptroller.texas.gov › forms › 01-917

   I have read the State of Texas, Comptroller of Public Accounts, Limited Sales and Use Tax Rule 3.316 regarding Occasional Sales (34 Texas Administrative Code §3.316), and I hereby acknowledge that the following sale I made qualifies as an occasional sale: Description of item sold (include year, model, serial numbers, etc.): Date item sold ...

   • File Size: 32KB

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3. comptroller.texas.gov › taxes › salesTexas Sales and Use Tax Forms - Texas Comptroller of Public ...

   comptroller.texas.gov › taxes › sales

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   AP-220, Instructions for Completing Texas Sales and Use Tax Permit Application (PDF) AP-220-S, Instrucciones para Completar la Solicitud Para el Permiso de Impuesto Sobre Ventas y Uso (PDF) Sales and Use Tax Returns and Instructions. 01-117, Texas Sales and Use Tax Return - Short Form (PDF) 01-114, Texas Sales and Use Tax Return (PDF) 01-115 ...

4. curleybusinesslaw.com › asset-purchase-agreement-texasWhat You Need to Know About Asset Purchase Agreements in Texas

   curleybusinesslaw.com › asset-purchase-agreement-texas

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   Feb 19, 2021 · An asset purchase agreement is the legal document that will govern the transfer of ownership of a business’s assets from the seller to the buyer. It should address all details of the asset purchase, including: Tangible assets included in the sale, such as machinery, inventory, office equipment, real estate, tools, accounts receivable, etc.;

5. www.hodgsonruss.com › media › publicationSales Tax Considerations In an Asset Purchase - Hodgson Russ

   www.hodgsonruss.com › media › publication

   the seller’s outstanding sales tax liability from the purchaser in an asset sale if some requirements are not satisfied. Most states require that either the seller or the purchaser provide the state taxing authority with notice of the proposed asset sale. That affords the taxing authority the opportunity to

   • File Size: 104KB

   • Page Count: 5

6. www.planobusinesslawyers.com › post › selling-aSelling a Small Business in Texas - What You Need to Know

   www.planobusinesslawyers.com › post › selling-a

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   Texas Franchise Tax: The state's franchise tax may apply to certain business entities. Understanding how the franchise tax will apply to the sale of the business is essential. Sales Tax on Business Assets: Texas levies a sales tax on the sale of tangible personal property. Determining whether sales tax applies to the assets being sold requires ...

7. People also ask

   Does a sale of tangible assets qualify for a tax exemption?

   • For example, in Idaho and Texas, to qualify for the exemption, the transaction must include ‘‘the entire operating as-sets of a business or of a separate division, branch, or identifiable segment of the business.’’2 Thus, an occasional sale of one or two tangible assets by a business would not qualify for the exemption.

   Sales Tax Considerations In an Asset Purchase - Hodgson Russ

   www.hodgsonruss.com/media/publication/162_04_2011 Sales Tax Considerations In an Asset Purchase.pdf

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   What are asset sales?

   • Asset sales are types of business transaction where buyers purchase assets from a business, and the sellers retain legal ownership of the company. They carry less risk for buyers while allowing sellers to perform fair market value due to diligence measures thoroughly.

   Asset Sale: What is it? Key Terms, Top Considerations - Contract Lawyers

   www.contractscounsel.com/t/us/asset-sale

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   How do I get a certificate of no tax due in Texas?

   • Due to changes made by Senate Bill 873, 87th Texas Legislature, the seller and purchaser of the business or assets must jointly request the Form 86-114, Joint Request for Certificate of No Tax Due (PDF). All fields must be completed and the form must be signed by authorized representatives of both the seller and the purchaser.

   Buying an Existing Business - Texas Comptroller of Public Accounts

   comptroller.texas.gov/taxes/publications/98-117.php

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   Is sales tax due on intangible assets?

   • The first question that has to be addressed once the seller and purchaser agree to structure their transaction as an asset purchase is whether sales tax is due on any of the assets that are being purchased. In most states, sales of intangible assets (such as goodwill, intellectual property, trademarks, and so on) are not subject to sales tax.

   Sales Tax Considerations In an Asset Purchase - Hodgson Russ

   www.hodgsonruss.com/media/publication/162_04_2011 Sales Tax Considerations In an Asset Purchase.pdf

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   Does sales tax apply if you buy tangible personal property?

   • Because most asset purchases contain some tangible personal property, sales tax will apply unless the state provides an applicable exemption. So when tangible personal property is part of an asset sale, the parties have to determine whether an exemption covers the asset sale.

   Sales Tax Considerations In an Asset Purchase - Hodgson Russ

   www.hodgsonruss.com/media/publication/162_04_2011 Sales Tax Considerations In an Asset Purchase.pdf

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   What are sales tax impli-cations in a bulk sale?

   • For some rea-son, parties frequently overlook the sales tax impli-cations that can arise when the transaction is structured as an asset sale (sometimes referred to as a bulk sale). In this scenario, the purchaser obtains only the seller’s assets, rather than purchasing the seller’s business as a going concern.

   Sales Tax Considerations In an Asset Purchase - Hodgson Russ

   www.hodgsonruss.com/media/publication/162_04_2011 Sales Tax Considerations In an Asset Purchase.pdf

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8. www.contractscounsel.com › t › usAsset Sale: What is it? Key Terms, Top Considerations

   www.contractscounsel.com › t › us

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   Asset sales are helpful when one company wants to acquire another company’s entire or partial asset portfolio. However, there are several legal considerations to make since asset sales carry tax implications and other options are available. Preparing yourself with knowledge before approaching the process is essential to the best possible outcome.