The taxes on selling business in North Carolina, in this case, are less complicated than an asset sale. An asset sale transaction involves the sale of some or all of the assets used in a business from a selling company to a buyer.A company that closes operations may sometimes be able to sell its assets. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. There are two primary ways to structure the taxable purchase and sale of an incorporated business. The parties may engage in an asset acquisition. Because an asset sale is not a typical transaction for most businesses, the isolated or occasional sale exemption may apply. We'll guide you through the process and essential steps for selling your small business in North Carolina.