[WSBARP] Escrow for Business Opportunity

[Bryce Dille]

Our office does Business sale closing both with and without real property being involved. Sales tax is generally on all equipment , vehicles, office furniture etc. does not include inventory  or other property held for resale. There are sometimes statutory exemptions for special kinds of equipment or vehicles.  SalesTax usually paid when buyer files first excise tax return except in case of vehicles where it is paid at transfer.

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

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Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments Real Property Foreclosures and Forfeitures.

-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Paul Neumiller
Sent: Thursday, May 27, 2021 4:43 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Escrow for Business Opportunity

Anyone have any recommendations for any escrow companies who handle the transfer of businesses that DO NOT involve the transfer of real property?  I'm looking for someone to handle the preparation and handling of UCC-1s and the like.

While I'm at it, I'll ask this question.  Is there an exemption to the sales/use tax on the transfer of assets in connection with the sale of a business?  When I wore a younger man's clothes and practiced in the Golden State, we could use something called the "bulk sale exemption" to avoid taxes on the sale of the assets and inventory as long it was in connection with the sale of 100% of a business.