Pennsylvania personal income tax does not have a provision for related party transactions. Call (215) 545-4830 - Danziger Shapiro, P.C. is dedicated to serving our clients with a range of legal services including Business and Corporate cases.Activity, including the partial or complete liquidation or sale of business assets, or making sales to persons within the City of Philadelphia. Asset Purchase Agreements (APAs) are essential documents for asset sales, but they're far more complex than a simple transaction. THIS ASSET PURCHASE AGREEMENT (this "Agreement"), dated as of September. In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. So when tangible personal property is part of an asset sale, the parties have to determine whether an exemption covers the asset sale.