Is New Jersey Bulk Sales Law Applicable To A Stock Sale?
When you buy a business in New Jersey, state law requires the business purchaser to issue the "pre-closing" notification of the proposed business sale. This notification must also include the terms of the sale and the expected date of the transaction's closing. This pre-closing notification is known as a "Bulk Sales Notice".
If you are the purchaser of a business in New Jersey, this bulk sales notice can be prepared by your New Jersey business lawyer. Once prepared by your New Jersey business lawyer, this bulk sales notice must be filed with the New Jersey State Division of Taxation. Your attorney can help ensure that you complete the filing in accordance with New Jersey's most up-to-date time requirements.
If the purchase of the business in New Jersey includes a stock sale, then YES, the same pre-closing notification will apply to the transaction.
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