When buying the assets of a business, some are subject to sales or use tax, while others are not. Items subject to retail sales tax.When you sell your business, you may need to report all or part of the sale on your excise tax return. Also, you may be required to collect retail sales tax. Download Washington Asset Purchase Agreement template, modify and send for signing using BoloForms Signature. The process is comprised of four general steps: conversation, letter of intent, definitive documentation and closing. A Business Purchase Agreement can be used for business acquisitions involving a sale of assets or a sale of all shares. 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. This guide will equip you, the Washington state business owner, with the knowledge and steps to navigate this journey.