Connecticut Department of Revenue Services
Return to CT.Gov Home
State of Connecticut Department of Revenue Services
About UsPrograms and ServicesPublicationsFormsContact UsHome
Taxpayer Answer Center
 Frequently Asked Questions 
 
Email DRS
 
 My Mailbox 
  show accessible links  
  Help  
 
 Search by Category View Category Hierarchy
    
  Search Tips 
   
    

   
  Answer ID  
388
  Select a Category  
  Sales and Use Tax
    Sales Tax Permit/Resale Number

 Printer Friendly Version of This Answer  Print Answer

 Email This Answer  Email Answer
 
  Purchasing existing business - successor liability
  Question
 

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

  Answer
 

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.

 
 
 
  
 
  Users who viewed this answer have also viewed
 
Back to Search Results
  Back to Search Results  


Home | CT.gov home | Send Feedback

State of Connecticut Disclaimer and Privacy Policy. Copyright © 2002, 2003, 2004 State of Connecticut.