When buying the assets of a business, some are subject to sales or use tax, while others are not. Items subject to retail sales tax.The process is comprised of four general steps: conversation, letter of intent, definitive documentation and closing. The easiest way to create a Business Purchase Agreement is to use a template that is customized to your state. Complete a contract usage agreement. Government entities (federal, state, local, or Tribal) must use the contract usage agreement (PDF, 445KB). Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. Download free Purchase Agreement Templates adjusted to Washington laws. For Real Estate, Stocks, Land, Business and more.