If you are purchasing a business that sells goods, you must
- Obtain a sales tax license.
- Pay sales tax on the tangible personal property included in the purchase of the business by the 20th day of the month following the sale.
- The purchaser may complete a Request for Tax Status Letter (DR 0096) from the Department of Revenue. The letter indicates the department's current information regarding where the business stands with tax payments and tax delinquencies. The seller of the business may request the letter for the buyer or the buyer may request the letter with a power of attorney from the seller.
If you are selling a business, you must
To obtain the DR 0096, please see our Sales Tax Forms Web page .
- Pay all business taxes due at the time of the sale.
- Pay sales tax collected on the sale of tangible property.
- Close the business sales tax account with Department of Revenue.