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. File your Annual Report or an Amended Annual Report using a credit card.Updates will post within minutes of filing! Whether you are purchasing or selling business assets or property, Michelle Cohen Levy has experience streamlining this complex process. The FAQs below contain general information to assist in the administration of tangible personal property tax. 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. This article provides an overview of the benefits of transferring real property into LLCs, as well as the issues that property owners should consider.