Learn the tax implications for each type of sale. An asset sale is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation.An asset sale otherwise known as an asset deal or asset purchase is a special type of business sale that only deals with assets and liabilities. In a stock sale, the buyer acquires equity from the target company's shareholders. Unlike asset sales, stock sales do not require conveyances of each individual asset. Generally, a stock sale is better for the seller and an asset sale is better for the buyer. An asset sale allows the transfer of specific assets and liabilities while the seller remains being owner of the legal entity. Asset sales are generally more favorable to buyers, and stock sales are more advantageous to sellers because of the way each is treated for tax purposes. As a general rule, sellers prefer stock sales and buyers prefer asset sales. In an asset purchase, the buyer agrees to purchase specific assets and liabilities.