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. 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.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Get a Free Business Legal Evaluation. Fill out the form below and one of our team members will be in touch immediately! 1. Fill in the full name and contact details of the seller. "Streamline your personal property transactions with our General Bill of Sale Form. The Arizona Department of Revenue (Department or ADOR) administers the property tax system in cooperation with the 15 county assessors, among others. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity.