Learn about the complex tax implications when selling a business across states. Explore a case involving Idaho’s pursuit of $1.4 million in taxes from a Virginia pass-through equity gain. M&A Stories February 9, 2021 Selling a Business Across States: Tax…
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Idaho Seeks $1.4 Million Tax from $120 Million Gain in Virginia Pass-Through Equity
Posted in nonbusiness income, state and local tax Tagged with: business income, cross-state business sale, double taxation, Idaho tax dispute, legal battle, M&A legal blog, mediation and arbitration, Multistate Tax Compact, Noell Industries case, nonbusiness income, pass-through equity, selling a business, state taxes, tax implications, tax resolution, Virginia LLC
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- reliance
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- retention bonus
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- reverse termination or breakup fee
- Revlon doctrine
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- risk of post closing payments
- royalty
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- sale leaseback
- sale of assets of business
- sale of business to ESOP
- sale of product line
- sales order
- sales tax
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- sales tax risk
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- scienter
- Section 1377 election
- Section 363 sale
- securing buyer's note
- securing deferred purchase price
- security agreement
- seller carried purchase price
- seller knowledge
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- seller owners equity interest in buyer
- seller ownership in buyer
- seller rep of no federal employer liability
- seller's age discrimination claims
- seller's covenants
- seller's federal injunctions
- seller's unemployment experience rating
- seller's warranty claims
- seller's workers compensation experience rating
- Selling shareholders problem with their board of directors
- severance benefits
- sexual harassment
- shareholder approval of deal
- shareholder buyout of partner
- shareholder personal guaranty of target lease
- shareholder release
- sharing transaction tax deduction benefits
- sick time
- signing LOI with revisions by signer
- specific performance
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- statute of frauds
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- stock purchase agreement
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- structure of transaction
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- tangible net worth
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- third party
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- tolling
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- trade secret misappropriation
- trade secret misappropriation by former seller employee
- trademark infringement
- trademarks
- transferee liability for taxes IRC Section 6901
- TRO/preliminary injunction before filing for arbitration
- tying fraud to economic loss
- typo or scriverner's error
- UCC search
- Uncategorized
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- union fringe benefits
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- unitary business
- unjust enrichment
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- unwanted assets
- vacation time
- valuation
- waiver of contractual provision
- waiver of jury trial
- waiver of removal to federal court
- waiver provision
- willful breach carveout
- willing buyer or procuring cause
- Withholding Post-closing payments
- working capital adjustment
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