Selling a business in New York
New York transactions carry more regulatory and tax texture than most states, at both the state and city level. We review established operating businesses across New York and account for that texture in the timeline rather than discovering it late.
Written and reviewed by Antoine Campbell. Last reviewed .
What we review here
- Building service, mechanical and specialty trade contractors
- Industrial service and equipment repair operations
- Distribution and last-mile logistics
- Home and community-based care providers
- Operations with owned commercial or industrial property
New York items in a transaction
The bulk sale process is the one that surprises out-of-state buyers and in-state sellers alike. New York State provides a notification procedure that protects the purchaser from certain sales tax liabilities of the seller, and it has to be started on time to work.
- Bulk sale notification requirements, which affect sales tax liability in an asset purchase
- Real property transfer tax at state and, in New York City, city level
- City and county licensing requirements for many trades
- Union agreements in building services and construction trades
- Commercial lease assignment provisions where property is leased
A note on presence
Maurant Ventures acquires businesses throughout the United States. Listing a market here means we actively review opportunities there. It is not a claim of a local office.
What Maurant needs to evaluate this
- Three years of tax returns and current financials
- Sales tax filing history and any outstanding liabilities
- Licensing at state, city and county level
- Collective bargaining agreements where applicable
- Lease assignment terms or property deed
When Maurant is not the right buyer
- Businesses with unresolved sales tax liabilities and no plan to clear them
- Restaurants and food service
Questions owners ask
- What is a bulk sale notification?
- A New York procedure in an asset sale that addresses the purchaser's exposure to the seller's unpaid sales tax. It has deadlines, so it goes on the closing schedule early.
- Do you buy in upstate New York?
- Yes. We review the whole state.
Sources
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This review is exploratory and does not promise a valuation, financing, offer, or closing.
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