Friday, July 18, 2014

Let the Buyer Beware – Hidden Sales Tax Liabilities in Business Acquisitions

Stop.  No, I mean it.  You better stop.

http://www.smartceo.com/cbiz-mhm-let-the-buyer-beware-hidden-sales-tax-liabilities-in-business-acquisitions/

This happened to a friend of mine.  They bought a business in another state, unaware that the other state had a much different taxing regime.  They got audited, had a $500,000 assessment, and wound up closing the business.  Badness.