State Tax Considerations When Selling a Business (Completed)

Too often state tax considerations are not on the radar when the sale of a business is being negotiated. This course, led by state and local tax attorneys Andrew Wright and Craig Reilly from Hodgson Russ LLP, will address the many state tax considerations that should be reviewed when a business is being sold, including characterization and apportionment of gain; sales tax occasional sale exemptions; bulk sale requirements; real property transfer taxes; and key contract provisions relating to tax representations, indemnification, and control of voluntary disclosures and post-closing audits.

Who Should Attend
Too often state tax considerations are not on the radar when the sale of a business is being negotiated. This webinar will address the many state tax considerations that should be reviewed when a business is being sold, including characterization and apportionment of gain; sales tax occasional sale exemptions; bulk sale requirements; real property transfer taxes; and key contract provisions relating to tax representations, indemnification, and control of audits.

Topics Covered

• Characterization of the Sale
• Timing / Accrual Rules
• Apportionment of Proceeds
• Sales Tax Implications
• Bulk Sale Requirements
• Due Diligence
• General Contract Provisions
• Real Property Transfer Taxes

Learning Objectives

• Identify the state and local tax implications of business asset sales versus business stock and other intangible sales
• Describe how to properly apportion and allocate the gain from business sales
• Recognize sales and use tax reporting obligations related to the sale of a business
• Recognize how to manage due diligence processes and review contractual language related to business sale transactions

Level
Overview

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None