Bulk Sales State Law Survey

Summary

This survey provides a summary of laws in all 50 states plus the District of Columbia governing for the tax treatment of bulk sale transactions. The exemption that many states have is typically designed to apply to situations in which a taxpayer is selling a large quantity of items in one sale; for example, the exemption would apply when the taxpayer is discontinuing the sale of a particular item or when the seller is selling all or substantially all of the assets of a business to quit the business. Because these transactions do not usually take place within the normal course of a business, these types of sales are usually exempt.