This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Sale Business Asset With Gain In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00418
Format:
Word;
Rich Text
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Financial statements should include both profit and loss statements and a balance sheet. The BIRT can be filed and paid online.In an asset sale, the new owner purchases the business's physical assets. The seller retains all rights to the legal entity. In an asset purchase, only the assets of the business are purchased, not the liabilities. There are two types of Sheriff Sales: The Judicial Mortgage Foreclosure Sales and the Tax Sales. If you are thinking about purchasing a business from someone, you should be aware of Pennsylvania's Bulk Sale Law. Since 2015, Philadelphia has used a single sales factor to apportion the business income of BIRT taxpayers.