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.
Sale Of Assets Vs Sale Of Business In Minnesota
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State:
Multi-State
Control #:
US-00418
Format:
Word;
Rich Text
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Most sales of business equipment and goods are taxable. Only certain sales are exempt if they are considered "isolated and occasional".An asset sale is the sale of just the good stuff: the equipment, trademarks, and customer list, for example. Before listing your business for sale, conduct comprehensive legal and financial audits to ensure you're compliant with all federal and Minnesota-specific laws. An asset purchase is generally more beneficial to the buyer than the seller from a tax standpoint.