Tax Considerations before Buying/Selling a Restaurant

Restaurant Hospitality recently published an article highlighting Stephen Bradshaw and Michael Kee’s guidance on how taxes affect a restaurant if someone is buying or selling. Bradshaw and Kee offer a five state tax-related steps every restaurant buyer, broker and seller needs to consider when approaching this process. The steps are as follows: look for sales tax refunds, determine if the seller should charge the buyer sales tax, check for outstanding sales taxes, determine if realty transfer taxes apply and check for unclaimed property (e.g., gift cards, uncashed checks). To read the full article, click here.

For additional information on tax issues related to buying or selling a restaurant, please contact Stephen Bradshaw by calling 770.396.2200.