The Bulk Sales Act in a Nutshell

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The purpose of the Bulk Sales Tax Act was to make sure that the taxes associated with the business part of real property have been paid. In 2007, The Bulk Sales Tax was codified and greatly expanded the law to apply to “all transactions in which seller of business assets makes a bulk sale, other than in the ordinary course of business.” The sale of real estate used to support a business is now included. ...

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