To report the sale of your business, visit thesource.jfs.ohio. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer.Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. 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. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. A purchaser of the assets of a business will be liable for any unpaid sales tax of the seller, as well as any accrued interest and penalties related thereto.