By Robert W. Malone[1] Most business acquisitions are structured as purchases of assets in order to insulate the buyer from exposure to the liabilities of the seller. While that is generally an effective strategy, there are exceptions and nuances that are explored in this article relative to the purchase of a business located inRead More
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Earth-shattering tax liability means doomsday for vendors: Don’t put your personal net worth at-risk
Vendors selling out of state but not collecting sales tax are on a path to suffering severe financial loss. The tax liability could be astronomical – enough to devastate a business – as high as 10% or more of total sales for a business with annual sales as low as $100,000 or as few asRead More
Plaintiffs filed a class action complaint last May against Wal-Mart Stores Inc. in the U.S. District Court for the Northern District of Ohio alleging that Wal-mart “systematically shortchanges customers who return products to a store located in an area with a lower sales tax than the store from which the product was originally purchased byRead More
