You Can Easily File Your Return Online. Filing your return online is an easy and efficient method of filing your sales and use tax return.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. Use Schedule D-1 to report the sale or exchange of business property when the California basis of the asset(s) is different from the federal basis. Use Form 4797 to report: The sale or exchange of property. The involuntary conversion of property and capital assets. In California, sales tax is generally imposed on an asset sale of a company unless the company being sold is a service business (where the "occasional sale". Fill out the form below, and we'll be in touch to discuss how we can meet your Business, Tax, or Estate Planning needs. Buying a business is an exciting opportunity, but it can involve significant tax implications. Learn what you may be liable for and how to protect yourself.