This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Business Sale Asset With Gain In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
More info
The gain or loss on each asset is figured separately. The sale of capital assets results in capital gain or loss.An asset sale will likely result in a combination of gain taxed at both ordinary and capital gains rates, depending on the nature of the individual assets. When we're talking about the gain or loss of the sale of an asset we need to be looking at net book value at the time of the sale.