Journal of Accounting and Taxation
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Article Number - 4ADDC8561302


Vol.8(6), pp. 66-69 , November 2016
DOI: 10.5897/JAT2016.00235
ISSN: 2141-6664



Full Length Research Paper

Bulk asset purchase transactions involving New York sales tax vendors: Be careful there and everywhere



James B. Biagi
  • James B. Biagi
  • School of Business and Global Innovation, Marywood University, Scranton, PA, USA.
  • Google Scholar







 Received: 01 September 2016  Accepted: 18 October 2016  Published: 30 November 2016

Copyright © 2016 Author(s) retain the copyright of this article.
This article is published under the terms of the Creative Commons Attribution License 4.0


This paper explores the potentially harsh impact of the bulk sales provisions of New York State’s Tax Law on the purchaser of assets (either personal, intangible or real) from a sales tax vendor other than in the ordinary course of business. The author also points out that New York is not alone in its treatment of these types of transactions.

Key words: Bulk sales, sales tax, sales tax vendor, personal liability.

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Carpenter .Sr. RP (2008). Avoiding Successor Tax Liability of Business Assets. Bus. Law Today 18(2):1-2. 

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Fisher MP, Roberts RM (2007). Bulk Sales: Provide Notice or Pay the Price. Pillsbury on Real Estate, Spring. 

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Higgins & McLaughlin Inc. Vs. New York State Tax Commissioner (1985). 109 A.D.2d 1029, 487 N.Y.S.2d 144.

 

New York State Code of Rules and Regulation, Part 537 of Title 20.

 

New York State Department of Taxation and Finance Publication 750 (6/10). A Guide to Sales Tax in New York State. Tax Bulletin TB-ST-70 (2013). New York State Department of Taxation and Finance Tax Bulletin TB-ST-70 (June 24, 2013). 

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New York State Tax Law §§ 1105, 1132, 1133 and 1141.

 

Varyani N (2014). Taxing Electronic Commerce: The Efforts of Sales and Use Tax to Evolve with Technology. 39 Okla. City U.L. Rev. 151.

 


APA Biagi, J. B. (2016). Bulk asset purchase transactions involving New York sales tax vendors: Be careful there and everywhere. Journal of Accounting and Taxation, 8(6), 66-69.
Chicago James B. Biagi. "Bulk asset purchase transactions involving New York sales tax vendors: Be careful there and everywhere." Journal of Accounting and Taxation 8, no. 6 (2016): 66-69.
MLA James B. Biagi. "Bulk asset purchase transactions involving New York sales tax vendors: Be careful there and everywhere." Journal of Accounting and Taxation 8.6 (2016): 66-69.
   
DOI 10.5897/JAT2016.00235
URL http://academicjournals.org/journal/JAT/article-abstract/4ADDC8561302

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