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.
Form 8594 Foreign Seller In Massachusetts
Category:
State:
Multi-State
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
I.R.C. § 1060(a)(2) — the gain or loss of the transferor with respect to such acquisition, the consideration received for such assets shall be allocated among such assets acquired in such acquisition in the same manner as amounts are allocated to assets under section 338(b)(5).
More info
Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form. 8594 because of an increase or decrease.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Both the buyer and the seller in an asset acquisition are required to file the Asset Acquisition Statement, Form 8594, with the IRS. Remote sellers and marketplaces are required to file Massachusetts sales and use tax returns on a monthly basis. Who Must File Form 8594? Both the seller and purchaser of a group of assets that make up a trade or business need to file Form 8594. Go to Screen 65, Asset Acquisition Statement (8594) (Screen 58 for S-Corp).