La. R.S. 47:818.123 — Notice of discontinuance, sale, or transfer of business

A. Prior to discontinuing any business to which a license has been issued pursuant
to the provisions of this Subpart, the licensee shall notify the secretary in writing at least
thirty days prior to the effective date of the discontinuance, sale, or transfer and shall
surrender the license to the secretary. The notice shall state the effective date of the
discontinuance and, if the licensee has transferred the business or otherwise relinquished
control to another person by sale or otherwise, the date of the sale or transfer and the name
and address of the person to whom the business was transferred or relinquished. The notice
shall also include any other information required by the secretary.
B. If a licensee liable for any tax, interest, or penalty levied in accordance with this
Subpart sells or transfers the business or quits the business, the licensee shall make a final
return and payment within fifteen days after the date of selling, transferring, or quitting the
business. The purchaser or assigns, if any, shall withhold sufficient amounts of the purchase
monies to cover the amount of taxes, interest, and penalties due and unpaid until such time
as the former owner shall produce a receipt from the secretary showing that all taxes, interest,
and penalties have been paid, or a certificate stating that no taxes, interest, or penalties are
due. If the purchaser of a business fails to withhold purchase money, the purchaser shall be
personally liable for the payment of the taxes, interest, and penalties accrued and unpaid on
the account of the operation of the business by any former owner, owners, or assigns.
C. In the case of a licensee who has quit a business but who subsequently opens
another similar business under the same ownership, whether that ownership is individual,
partnership, corporation, or other, that licensee shall be liable for any tax, interest, or penalty
owed by the original business.