Does a change in ownership or purchase of an existing business require a new sales tax permit?
Sales tax permits are not transferable and a new permit must be obtained if a business has a change in ownership. A change in ownership may include changing from a sole proprietor to a partnership or corporation, a change of partners, purchasing an existing retail or service-related business, or reorganization resulting in a change of the federal identification number (Fed ID#). If a corporations officers change, but the Fed ID# remains the same, a new permit is not required, but the business must complete and mail a corporate officer update form to our office.
Related Questions
- I want to open a business or take over operation of an existing business. What permits and/or licenses does the County of Orange require?
- Does a change in ownership or purchase of an existing business require a new sales tax permit?
- How do I record the purchase of an existing business as a journal entry?
