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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 in the State of Ohio.[2]
Sales Tax
Ohio, like most States, imposes a sales tax, with certain exceptions, upon retail sales made in this State.[3] Although it is the buyer of an item subject to sales tax that is obligated to pay the tax, it is the seller, assuming that it has nexus with Ohio, that must collect the tax on the sale and remit it to the State.[4] The Ohio sales tax rate is 5.75%, and the Counties on behalf of themselves and other governmental organizations, can add additional so-called piggy back taxes increasing the tax rate.[5] The piggy back sales tax rate in Cuyahoga County, for example, is 2.75%. Informat
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Thailand s Official Receiver recently issued an important
announcement relevant to all existing or potential creditors of
Thai Airways International Public Company Limited ( Thai
Airways International ). The announcement details the Central
Bankruptcy Court s Order for rehabilitation of Thai Airways
International and was published in the Royal Gazette on October 2,
2020.
This notice is of particular importance to creditors of Thai
Airways International, as all liabilities for debt repayment shall
be managed by the plan preparer in charge of Thai Airways
International s rehabilitation. However, in order to qualify