Most sales of business equipment and goods are taxable. Only certain sales are exempt if they are considered "isolated and occasional".Sale of property used in a trade or business. To qualify for a 1031 exchange in Minnesota, both the sold property and the purchased property must be investment or business properties. Our free online guide for business owners covers Minnesota sales tax registration, collecting, filing, due dates, nexus obligations, and more. Private Business Use Working Tips. A capital gain or loss is the difference between the amount the business paid for an asset and the amount received when that asset is sold.