To learn more about SDR and e-SDR, go to Filing Form 571L Business Property Statement. Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale.Apply for a New Business Tax Certificate online or at the Business Tax Office. Refundable business registration fee plus special fees. When reporting a sale, include the new owner's name and mailing address. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. Do not report used costs within Page 2 of the Personal Property Statement. This Drake Tax article discusses the sale of an asset used for personal and business use. It may be necessary to include a schedule that contains detailed description of the personal property, the original cost, and the year of. A seller must give all prospective purchasers Form TP153, Notice to Prospective Purchasers of a Business or Business Assets.