The return should include the tax due from business operations to the last day of business, as well as any tax collected on assets that you sell. If you are purchasing, transferring, or assigning either part or all of the assets of an existing business, there are specific rules that apply to the.Property taxes apply only to businesses that own real property. Each town or village regulates its own assessments. Business licenses are due March 1 of each year. Fill out and complete the PDF to order a copy of a Business Certificate. Deed Order Form, Fill out and complete the PDF to order a copy of a Deed. Ii. Gain on the sale of assets is not taxable at the shareholder level for both residents and nonresidents. 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. Suffolk County sales tax details.