First Circuit: Employer Acquiring Assets in a Sale Pursuant to Section 363 of the Bankruptcy Code is not a Successor Employer for Unemployment Tax Purposes

Under Section 363(f) of the U.S. Bankruptcy Code, a bankruptcy trustee or a debtor-in-possession may sell the assets of the bankruptcy estate "free and clear of any interest in such property."  Such sales can be attractive to buyers as a means of purchasing assets quickly and with protection from successor … [Read more...]

Automobile Lessor Cries “Rich Uncle” but Department of Revenue Determines that Dealer Buyout Payments are Subject to Indiana Sales Tax

Letter of Findings 04-20110564 and 04-20120271, released Wednesday by the Indiana Department of Revenue, involved a taxpayer ("Auto") engaged in the business of leasing vehicles.  Auto would contract with a customer ("Customer") to lease a vehicle for a set period of time, after which Auto would typically sell the … [Read more...]

A Common Carrier “On the Move”: Denial of Taxpayer’s Public Transportation Exemption for Sales and Use Tax Reversed by Indiana Tax Court

On October 30th, the Indiana Tax Court in Wendt LLP v. Indiana Department of State Revenue, Cause No. 02T10-0701-TA-2, held that certain purchases by Wendt, a licensed common carrier headquartered in Wabash, Indiana, qualified for the public transportation exemption (Ind. Code § 6-2.5-5-27) from sales and use tax, … [Read more...]