Isolated or Occasional Sales (Rescinded November 30, 2000)

AUTHORITY: section 144.270, RSMo 1994. This rule was previously filed as rule no. 88 Jan. 22, 1973, effective Feb. 1, 1973. S.T. regulation 010-1 was last filed Oct. 28, 1975, effective Nov. 7, 1975. Refiled March 30, 1976. Amended: Filed Aug. 6, 1980, effective Jan. 1, 1981. Amended: Filed Sept. 7, 1984, effective Jan. 12, 1985. Rescinded: Filed May 24, 2000, effective Nov. 30, 2000. In Staley v. Missouri Director of Revenue, 623 SW2d 246 (Mo. banc 1981), a partnership contracted to sell all furnishings in a one-time liquidation sale. The court found since section 144.010.1(2) specifically provides that “business” and an “isolated occasional sale” are distinct terms, no tax is due on isolated or occasional liquidation sales by parties not engaged in the business of selling items sold.