Need help selling or buying a business? Romano Law's team provides buyer due diligence, contract negotiation, seller preparation, closing assistance, more.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. Many Buyers will require that a sale be structured as an Asset Purchase in order to avoid responsibility for prior liabilities or expenses of the business. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. A business usually has many assets. A seller's permit is required of a person engaged in the business of selling tangible personal property. If you sold business-use property during the year, you had a gain or a loss on the sale.