Need help selling or buying a business? Romano Law's team provides buyer due diligence, contract negotiation, seller preparation, closing assistance, more.Fill out the form below, and we'll be in touch to discuss how we can meet your Business, Tax, or Estate Planning needs. When you purchase or sell an asset, you must retitle all property in the new owner's name. This includes leases and equipment titles. Buyer gives notice of the Bulk Sale. Enter your total taxable and nontaxable sales for the reporting period, including lease and rental receipts. However, Stock sales are not subject to sales taxes. A business usually has many 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".