Au 196 10 Form PDF Details

When a business undergoes a significant change, such as a sale, transfer, or assignment of its assets in bulk, not in the ordinary course of business, it navigates through a critical and structured process as mandated by the New York State Department of Taxation and Finance through the AU-196.10 form. This document serves a vital role by ensuring that all involved parties—be it the purchaser, seller, or an escrow agent—adhere strictly to the tax regulations set forth by the state, safeguarding against potential tax evasion and ensuring a smooth transition of ownership. The form requires detailed disclosures about the parties involved, including their mailing addresses and identification numbers, a comprehensive account of the assets being sold including tangible property, real estate, and intangible assets like goodwill, alongside a breakdown of their sales prices. The necessity to notify the Commissioner of Taxation and Finance at least ten days before the transaction through registered mail, details any terms and conditions tied to the sale, and underscores the criticality of accuracy and honesty in representing the fiscal aspects of the transaction. Furthermore, the initiation of this form highlights the obligations of the buyer concerning tax liabilities and the importance of securing a Certificate of Authority in certain scenarios, showcasing the depth of regulatory compliance required for such transactions.

QuestionAnswer
Form NameAu 196 10 Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesassignment bulk, au 196 10, 196 taxation form, nys au 196 10

Form Preview Example

Department of Taxation and Finance

AU-196.10

 

New York State and Local Sales and Use Tax

(3/17)

 

Notiication of Sale, Transfer, or Assignment in Bulk

The following information should be submitted by registered mail at least 10 days before taking possession of or paying for the business or property, whichever comes irst. Complete this form in duplicate. Retain a copy for your records. See instructions for where to mail.

Read instructions on page 2 before making entries below.

Section 1 – Mailing address of purchaser, seller, and escrow agent (if any)*

Purchaser or representative’s name

Seller or representative’s name

Escrow agent

 

 

 

Number and street

Number and street

Number and street

 

 

 

City, state, ZIP code

City, state, ZIP code

City, state, ZIP code

 

 

 

Telephone number with area code

Telephone number with area code

Telephone number with area code

(

)

(

)

(

)

Section 2 – Vendor identiication*

Purchaser’s Certiicate of Authority identiication number

 

Seller’s Certiicate of Authority identiication number

Last day of business

 

 

 

 

 

 

 

 

 

 

Purchaser’s name

 

 

 

 

Seller’s name

 

 

 

 

 

 

 

 

 

 

 

 

Business or trade name

 

 

 

 

Business or trade name

 

 

 

 

 

 

 

 

 

 

 

 

Business location (number and street)

 

 

 

Business location (number and street)

 

 

 

 

 

 

 

 

 

 

 

 

City, state, ZIP code

 

 

 

 

City, state, ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

Section 3 – Details of sale*

 

 

 

 

 

 

 

 

 

 

a)

Scheduled date of sale

b)

Location of property when transferred

 

f) Sales prices of assets sold:

 

 

 

 

 

 

 

 

1.

Tangible personal property

 

 

c)

Type of business or property sold

d)

Amount of escrow fund

 

 

 

.................(furniture, ixtures, etc.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

Motor vehicles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

e)

Name of bank in which escrow fund is deposited

 

 

3.

Merchandise inventory for resale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address (number and street)

 

 

 

 

4.

Manufacturing equipment,

 

 

 

 

 

 

 

 

 

 

tools and supplies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City, state, ZIP code

 

 

 

 

5.

Real estate

 

 

 

 

 

 

 

 

 

6.

Intangible property (goodwill, etc.) ...

 

 

 

 

Account identiication (name and number)

Bank telephone number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(

)

 

Total sales price

 

 

 

g) Terms and conditions of sale (attach copy of Contract of Sale):

*Notiication in writing is required of any change in the information reported above.

New York State Sales and Use Tax Law, Article 28, section 1141(c), provides in part as follows:

Whenever a person required to collect tax shall make a sale, transfer, or assignment in bulk of any part or the whole of his business assets, otherwise than in the ordinary course of business, the purchaser, transferee or assignee shall at least ten days before taking possession of the subject of said sale, transfer or assignment, or paying therefore, notify the (Commissioner of Taxation and Finance) by registered mail of the proposed sale and of the price, terms and

conditions thereof whether or not the seller, transferor or assignor, has represented to, or informed the purchaser, transferee or assignee that he owes any tax

pursuant to this article, and whether or not the purchaser, transferee, or assignee has knowledge that such taxes are owing, and whether any such taxes are in fact owing.

Certiication: I,the purchaser/seller named above, or other authorized representative of such purchaser/seller, do hereby certify that the above statements are true, complete and correct, and that no material information has been omitted. I make these

statements with the knowledge that willfully issuing a false or fraudulent document with the intent to evade tax may constitute a felony under New York State

Law, punishable by a substantial ine and a possible jail sentence. I also understand that the Tax Department is authorized to investigate the validity and the accuracy of any information entered on this document.

Date

/ /

Signature

Title (if other than purchaser, please identify)

W

Page 2 of 2 AU-196.10 (3/17)

Instructions

Section 1 – Mailing address of purchaser, seller, and escrow agent (if any)

Since Transaction Desk Audit Bureau will be contacting the

purchaser, seller, and escrow agent, a mailing address for each is required. The mailing address provided may be the business or home address of the oficer, partner, or other representative responsible for the records of the parties involved. If the mailing

address is that of a representative, a power of attorney must be attached.

Section 2 – Vendor identiication

List each vendor’s identiication number as shown on the Certiicate of Authority issued by the NYS Tax Department. If the purchaser is

not a registered vendor, indicate none.

List the purchaser and seller as stated in the sales contract, including their trade name (corporation, partnership, name under

which an individual owner is doing business, assignee, trustee, estate, etc.) and business location.

Section 3 – Details of sale

In connection with the proposed sale, the following information is required:

a)Scheduled date of sale – The date to be entered is the date

that the purchaser is taking possession of the business or property sold, or paying therefor, whichever comes irst.

b)Location of property when transferred to the purchaser – If more than one location, attach a detailed schedule.

c)Type of business or property sold – for example, restaurant,

retail clothing, fuel oil distributor, wholesale automotive supply, hardware manufacturer, etc.

d)Amount of escrow fund (if any).

e)Name, address, and telephone number of bank and identiication of account in which escrow fund is or will be deposited.

f)Sales prices of assets sold – If the sales contract does not provide a sales price for the asset, the amount to be listed is

the depreciable value for income tax purposes or the fair market value, whichever is higher. Do not reduce the sales price or

valuation assigned by the amount of any mortgage or other liability assumed by the purchaser.

1.Sales price of tangible personal property. Include furniture, ixtures, supplies, and all other tangible personal property (except for inventory for resale, manufacturing equipment, tools and supplies, and motor vehicles).

2.Sales price of motor vehicles.

3.Sales price of merchandise inventory for resale. Inventory for resale may be transferred exempt from sales tax.

The purchaser must give the seller a properly completed

Form ST-120, Resale Certiicate, within 90 days of the sale.

4.Sales price of manufacturing equipment, tools, and supplies. Include all equipment or machinery for use or consumption directly and predominantly in the production of tangible personal property, gas, electricity, refrigeration or steam

for sale, and tools and supplies used in connection with such machinery or equipment. Machinery, equipment, and

parts entitled to exemption in accordance with Tax Law sections 1105-B, 1115(a)(12), and 1210(a)(1), may be transferred exempt from sales tax. The purchaser must give the seller a properly completed Form ST-121, Exempt Use Certiicate, within 90 days of the sale.

5.Sales price of real estate.

6.Sales price of intangible assets. Include goodwill, accounts

receivable, notes receivable, mortgages, securities, and all other intangible assets.

g)Terms and conditions of sale – Outline manner of payment and any conditional provisions of the contract.

Mailing address

Mail original to:

NYS TAX DEPARTMENT

TDAB–BULK SALES UNIT

W A HARRIMAN CAMPUS

ALBANY NY 12227-0299

If not using U.S. Mail, see Publication 55, Designated Private Delivery Services.

Attention

Any person who is required to ile Form AU-196.10 and who, in addition, has to obtain a Certiicate of Authority, must ile Form DTF-17, Application to Register for a Sales Tax Certiicate of Authority. This application must be iled at least 20 days before

either taking possession of the business assets or paying for them, whichever comes irst. Failure to ile a timely registration for a Certiicate of Authority may, in addition to any other penalty imposed by the Tax Law, result in a penalty of up to $200. You can ile this application online at www.businessexpress.ny.gov (see

Need help?).

If you sell tangible personal property or services subject to tax,

receive amusement charges, operate a hotel, purchase or sell

tangible personal property for resale, or sell automotive fuel or cigarettes without a Certiicate of Authority, in addition to any other penalty imposed, you are subject to a penalty not exceeding $500 for the irst day plus an amount not exceeding $200 for each subsequent day on which such sales or purchases are made, not to exceed $10,000 in the aggregate.

Need help?

Internet access: www.tax.ny.gov

(for information, forms, and publications)

Sales Tax Information Center:

(518) 485-2889

To order forms and publications:

(518) 457-5431

Text Telephone (TTY) Hotline

 

(for persons with hearing and

 

speech disabilities using a TTY):

(518) 485-5082

How to Edit Au 196 10 Form Online for Free

Dealing with PDF files online is certainly a breeze with this PDF editor. You can fill in new york au 196 10 here painlessly. FormsPal team is committed to making sure you have the absolute best experience with our editor by continuously adding new capabilities and upgrades. With these updates, using our tool becomes easier than ever before! With a few simple steps, you are able to begin your PDF journey:

Step 1: Hit the "Get Form" button at the top of this webpage to open our tool.

Step 2: When you access the tool, you will notice the document ready to be completed. Apart from filling in different blanks, you might also perform many other things with the Document, including putting on any textual content, changing the initial textual content, adding illustrations or photos, signing the form, and a lot more.

Pay close attention while filling out this pdf. Make certain every blank is completed correctly.

1. To start off, when filling out the new york au 196 10, begin with the area that has the following blanks:

Writing segment 1 in form au 196 10

2. Once this part is finished, it is time to put in the required particulars in c Type of business or property, e Name of bank in which escrow, Address number and street, City state ZIP code, Account identiication name and, Bank telephone number , f Sales prices of assets sold, Tangible personal property, furniture ixtures etc , Motor vehicles , Merchandise inventory for resale , Manufacturing equipment, tools and supplies , Real estate , and Intangible property goodwill etc in order to progress to the next stage.

Step # 2 of filling in form au 196 10

Concerning Tangible personal property and tools and supplies , make certain you review things here. These two are considered the most significant ones in this PDF.

3. The next stage is straightforward - complete all the empty fields in Certiication I purchaserseller do, Title if other than purchaser, and Signature in order to complete this segment.

Step no. 3 in filling out form au 196 10

Step 3: Right after taking another look at the filled in blanks, click "Done" and you're done and dusted! Obtain your new york au 196 10 once you register at FormsPal for a free trial. Readily view the pdf inside your FormsPal cabinet, together with any edits and changes being automatically preserved! FormsPal is committed to the privacy of our users; we make certain that all personal data coming through our tool continues to be confidential.

Au 196 10 Form isn’t the one you’re looking for?

Related Documents