Federal Tax Research 10th Edition by Roby Sawyers,William Raabe,Gerald Whittenburg,Steven Gill

Exercise 44

WaterWorks Corporation has decided to sell off one of its amusement parks located in Texas. Several businesses have been identified as possible buyers. It is unlikely that one of these businesses by itself will purchase all the assets of the amusement park, but WaterWorks is confident that it can sell all the assets to various parties within a six-month period. Is this sale subject to Texas sales tax