The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
28-5635 - Discontinuance, sale or transfer of business; violation; classification
28-5635. Discontinuance, sale or transfer of business; violation; classification
A. When a supplier ceases to engage in business as a supplier in this state and discontinues, sells or transfers the business:
1. The supplier shall notify the director in writing at least ten days before the discontinuance, sale or transfer takes effect. The notice shall give:
(a) The date of discontinuance, sale or transfer of the business.
(b) The name and address of the purchaser or transferee of the business.
2. All taxes, penalties and interest not then due and payable under this article or section 28-8344 are due and payable concurrently with the discontinuance, sale or transfer. Concurrent with the discontinuance, sale or transfer, the supplier shall:
(a) Make a report.
(b) Pay all taxes, interest and penalties.
(c) Surrender to the director the license issued to the supplier by the director.
B. Unless the notice is given to the director, the purchaser or transferee is liable to this state for the amount of all taxes, penalties and interest accrued under this article or section 28-8344 against the supplier who is selling or transferring the supplier's business on the date of the sale or transfer but only to the extent of the value of the property and business that is acquired from the supplier.
C. A person who violates this section is guilty of a class 1 misdemeanor.