Florida Florida Statutes
§ 213.758 — Transfer of tax liabilities
FS § 213.758Ch. 213
Statute text
View on source(1)As used in this section, the term:(a) “Business” means any activity regularly engaged in by any person, or caused to be engaged in by any person, for the purpose of private or public gain, benefit, or advantage. The term does not include occasional or isolated sales or transactions involving property or services by a person who does not hold himself or herself out as engaged in business. A discrete division or portion of a business is not a separate business and must be aggregated with all other divisions or portions that constitute a business if the division or portion is not a separate legal entity.
(b)“Financial institution” means a financial institution as defined in s. 655.005 and any person who controls, is controlled by, or is under common control with a financial institution as defined in s. 655.005.
(c)“Insider” means:1. Any person included within the meaning of insider as used in s. 726.102; or 2. A manager of, or a person who controls a transferor that is, a limited liability company or a relative as defined in s. 726.102 of any such persons.
(d)“Involuntary transfer” means a transfer of a business, assets of a business, or stock of goods of a business made without the consent of the transferor, including, but not limited to, a transfer:1. That occurs due to the foreclosure of a security interest issued to a person who is not an insider; 2. That results from an eminent domain or condemnation action; 3. Pursuant to chapter 61, chapter 702, or the United States Bankru7 4. To a financial institution if the transfer is made to satisfy the transferor's debt to the financial institution; or 5. To a third party to the extent that the proceeds are used to satisfy the transferor's indebtedness to a financial institution. If the third party receives assets worth more than the indebtedness, the transfer of the excess may not be deemed an involuntary transfer.
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Legislative history
s. 8, ch. 2010-166; s. 1, ch. 2012-55;