Electronic filing of the Business Property Statement uses a web-based application that will allow users to view, modify, and submit BPS filings on-line. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale. Completing the Business Property Statement (Form 571L). Appealing an Assessment. 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. For most small businesses, you will only need to complete sections 1, 2 and 4 of Part II of the Business. Property Statement. Supplies.