A bulk sale is a sale of goods by a business which engages in selling items out of inventory (as opposed to manufacturing or service industries), often in liquidating or selling a business, and is governed by the bulk sales law. Article 6 of the Uniform Commercial Code (UCC), which has been adopted at least in part all states, governs bulk sales. The heart of the bulk sales law is the requirement that the transferee provide the transferor's creditors with notice of the pending bulk transfer. This notice is the essential protection provided to creditors; once notified, the creditor must take the necessary steps to adequately protect his or her interest.
Massachusetts Bulk Sale Notice
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Multi-State
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US-04035BG
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Form 1 or a Form 1-NR/PY:DOR, PO Box 7000, Boston, MA 02204. Payment: Mass. DOR, PO Box 7003, Boston, MA 02204.
In general, clothing, groceries, medicines and medical devices and industrial equipment are sales tax exempt in many states (but don't assume they'll be exempt in all states. Every state is different when it comes to sales tax!)
Traditional Goods or Services Goods that are subject to sales tax in Massachusetts include physical property, like furniture, home appliances, and motor vehicles. Prescription medicine, groceries, gasoline, and clothing are all tax-exempt. Some services in Massachusetts are subject to sales tax.
Registering to collect sales/use tax After you register with us, we'll give you a Sales and Use Tax Registration Certificate (Form ST-1) for each business location. The form must be displayed on the business premises where customers can easily see it.
Are groceries taxable in Massachusetts? Grocery items are generally tax exempt in Massachusetts. This includes soft drinks, candy and other food types that many other states consider taxable.
Understanding interest Interest is charged on unpaid penalties as well as on unpaid tax. The Massachusetts interest rate for underpayments is equal to the federal short-term rate (which can change quarterly) plus four percentage points, compounded daily.
You can apply for your sales tax permit online using the new MassTaxConnect website, which replaces the older WebFile for Business portal. You will receive a temporary permit immediately, your final permit (Form ST-1) will be received within 7-10 days and must be displayed prominantly in your place of business.
Traditional Goods or Services Goods that are subject to sales tax in Massachusetts include physical property, like furniture, home appliances, and motor vehicles. Prescription medicine, groceries, gasoline, and clothing are all tax-exempt. Some services in Massachusetts are subject to sales tax.
Massachusetts Clothing Sales Tax, Explained In Massachusetts, all clothing and footwear items at $175 or less are exempt from sales tax. Items above $175 are taxable at the statewide Massachusetts rate of 6.25%.
If you need to apply for a registration, go to mass.gov/dor and click on MassTaxConnect to complete an online application for registration. 3. This certificate must be signed by and bear the name and ad dress of the purchaser and his/her Account ID number or Federal Identifica- tion number.
