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05/03/2012
U.S. and State of Ohio Reach $5.5 Million Settlement for Damages from Hazardous Releases in Lower Ashtabula River and Harbor
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05/03/2012
Federal Court Shuts Down Texas Tax Return Preparer
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05/03/2012
Hyosung Corporation Executive Agrees to Plead Guilty to Obstruction of Justice for Submitting False Documents in an ATM Merger Investigation
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05/03/2012
UN highlights role of press freedom as catalyst for social and political change
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05/01/2012
President of Costa Rican Company Convicted in Half a Billion Dollar Fraud Scheme with Thousands of Victims Worldwide
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05/01/2012
Arizona Man Sentenced to Seven Years in Prison for Participating in International Child Pornography Ring
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05/01/2012
National Express and Petermann to Sell Off School Bus Contracts in Texas and Washington to Resolve Antitrust Concerns
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05/01/2012
Justice Department Reaches Settlement with Nations Largest Mortgage Insurance Provider to Resolve Allegations of Discrimination Against Women on Maternity Leave
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05/01/2012
Hitachi-LG Data Storage Inc. Executive Agrees to Plead Guilty for Participating in Bid-Rigging Conspiracies Involving Optical Disk Drives
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05/01/2012
Suspect Arrested in Robbery of US Bank Branch in Rockwood
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FAQ / What to consider when purchasing an existing business?

Before purchasing an existing business, or the assets from an existing business other than in the ordinary course of business, you must determine if the seller was required to collect the state sales tax. If so, the sale is considered a bulk sale transaction, and the purchaser has legal responsibilities regardless of the size or cost of the purchase. A person who purchases or acquires all or any part of the assets of a business may be held personally liable for any sales tax owed by the seller. As a purchaser of assets in a bulk sale transaction, you are required to notify the state department of taxation and finance of your pending purchase or acquisition before paying for or taking possession of the business assets. Any license or registration that is required for the operation of the business may not necessarily be transferable from one individual or business, even when an existing business is purchased. You may be required to complete new registration forms for all required licenses or registrations. For more information, please contact us.


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