The purchase price can include cash, promissory notes, assumptions of liabilities, dividends of cash or assets out of a company before a sale, deferred. If you are applying to the AG, submit the verified petition to the Charities Bureau in New York.An asset purchase agreement should describe as specifically as possible the business assets being transferred. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price. (iii) a New York State Sales Tax Return for its sales tax liability for the taxable portion of the. Use tax is a tax imposed on the use of taxable items and services in New York when the sales tax has not been paid. An asset purchase agreement is a legal document used when buying or selling a small business. Read on to understand the basics. Fill out the form to access a sample of Practical Guidance.