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  Purchasing existing business - successor liability

Q.  If I am purchasing an existing business, what should I do?


A. If you purchase an existing business, you could be held personally liable for the former owner's sales and use tax, admissions and dues tax or income tax withholding liabilities. To avoid this problem, you should apply for a Tax Clearance from the Department. Please see IP 2011(16) Successor Liability for Sales and Use Taxes, Admissions and Dues Tax, and Connecticut Income Tax Withholding.

(Updated: 2015)

This answer is intended to provide general information concerning a frequently asked question about a current position, policy, or practice associated with the taxes administered by the Connecticut Department of Revenue Services.  It may include an informal interpretation of Connecticut tax law by the Department of Revenue Services (DRS).  However, it is not intended to serve as a legal ruling.

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