n Business Tax and Company Law Quarterly - The salient features of a sale-of-business transaction

Volume 1, Issue 1
  • ISSN : 2219-1585


The purpose of this article is to address the tax consequences of some of the key aspects of a typical sale-of-business transaction. The article deals with the allocation of price to the assets, and the tax consequences of the composition of the assets. When a business is sold, the tax consequences for the contracting parties arising from the transfer of assets are usually considered, whereas the tax consequences of the transfer of liabilities often are not. The latter has recently been considered by the tax courts. This article deals with the tax consequences of the transfer of liabilities from seller to buyer, particularly contingent liabilities.

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