Typically exempt from the sales/use tax base is the purchase of inventory from a competitor who is closing down a long-lived business.

Question

Quizplus · Accepted Answer

The purchase of inventory from a competitor who is closing down a long-lived business is typically exempt from the sales/use tax base. This is because such purchases are often seen as not being a part of regular retail sales, but rather an exceptional circumstance. However, this exemption may vary depending on the specific state's tax laws.

Typically Exempt from the Sales/use Tax Base Is the Purchase