New England rules of the road

This is educational and flagged for professional verification. NewHands does not quote transfer-tax rates or bulk-sale waiting periods, because the forms change and a wrong number is worse than a link.

Entities. Confirm the seller exists and is in good standing with the Secretary of State before you wire a deposit. Links are on the sources page under state references. NewHands does not bulk-download those registries.

Transfer taxes and real estate. If the building conveys, the state revenue department and the town clerk are the sources for transfer tax, and sometimes a separate mansion or documentary stamp. Start at the revenue links above. Ask a local closing attorney for the current rate. Do not use a number from a prior deal in another state.

Bulk sales and successor liability. Several New England states have required a buyer of business assets to notify the tax authority so unpaid sales tax can be claimed. Massachusetts and Connecticut are the ones practitioners raise first. The notice, the wait, and whether the rule still matches your facts are questions for counsel and the department of revenue. This page intentionally does not restate a waiting period.

Liquor. A restaurant's permit is not inventory. Maine BABLO, the New Hampshire Liquor Commission, Vermont Liquor and Lottery, the Massachusetts ABCC, Rhode Island DBR, and Connecticut DCP each control transfers differently. A public permit list, including the Connecticut records in this index, is not an offer to sell the bar.

Professional and care licenses. Dental, veterinary, and child-care licenses are personal or facility-specific. The buyer should call the board before modeling a full year of collections or tuition.

Marinas and shoreside property. Submerged lands and shoreland zoning are state and town matters in Maine and elsewhere on the coast. The operating multiple and the property are different assets.

Verify every item in this note with a lawyer or CPA admitted in the state of the deal before you rely on it.