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. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity.Our firm's experienced business lawyers in San Jose, CA, can provide the guidance and support necessary to facilitate a successful asset sale. In this guide, Real Estate Law Corporation explores the key tax considerations associated with APAs to help you navigate these transactions effectively. You must submit a paper filing and a supplemental form to the Assessor's Office. Both forms are on our e-filing site. 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 if goodwill or going concern value. Depending on the type of business, there are different tax types that you will be required to pay.