The deposit must then be transferred into an appropriate bank account within one (1) business day of the conclusion of the auction. You must file a return even if you have no taxable sales, purchases, or credits to report.To complete a no-tax-due quarterly return: 1. An asset sale entails the buyer purchasing the company's assets, including cash, accounts receivable, inventory, equipment, property, and leasehold interests. Identify the parties involved in the transaction. 2. This guidebook was prepared to help you get started on the road to a successful entrepreneurship and keep you pointed in the right direction. If they buy the money and increase the offer, you pay taxes on it again on the asset sale. You presumably already paid taxes on the money. Ridgewood Savings Bank offers great rates on CDs, savings and money market accounts, residential and commercial mortgages, HELOCs, Personal loans, and more. Once you have a general agreement with the buyer, the buyer usually drafts and signs a non-binding letter of intent.