The Minnesota Department of Revenue has recently issued modifications to Revenue Notice 1991-06. This notice deals with the taxability of isolated or occasional sales. The modifications to the notice state that sales of tangible personal property primarily used in a trade or business do not qualify for the isolated or occasional sales tax exemption. The Revenue Notice further defines a trade or business as any activity carried on for the production of income from selling goods or performing services. There are some exceptions to this notice. As stated in modifications, the following sales of assets used in a trade or business may qualify for the exemption: (1) if the sale occurs in a transaction subject to or described in specified Internal Revenue Code Sections; (2) the sale is between members of a controlled group as defined in IRC Section 1563(a); (3) the sale is a sale of farm machinery; (4) the sale is a farm auction sale; (5) the sale is a sale of substantially all of the assets of a trade or business; or (6) the sales of trade or business property made during the month of the sale and the previous 11 calendar months does not exceed $1,000 the sale may still be eligible for the exemption. (Revenue Notice 91-06, Minnesota Department of Revenue, December 20, 2004)