Enter amounts included in U.S. Form 4797, Part II treated as capital gains or losses for Massachusetts purposes (not included in lines 1 through 6 above). The Company's sale of tangible personal property in Massachusetts will be subject to the sales tax, unless otherwise exempted.In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. A profit gained from selling a capital asset is referred to as capital gains. This could be an investment like a stock or an asset like a business. The gain or loss on each asset is figured separately. The sale of capital assets results in capital gain or loss. Sellers will often want the sale of as many business assets as possible to be treated as capital gains to save on taxes.