An asset sale is the purchase of individual assets and liabilities, whereas a stock sale is the purchase of the owner's shares of a corporation. Asset Sale lets buyers choose specific assets and liabilities; Stock Sale doesn't.Learn the tax implications for each type of sale. While an asset sale outshines a stock sale in company structure support, it loses a fair amount of points when it comes to tax implications. An asset sale transaction involves the sale of some or all of the assets used in a business from a selling company to a buyer. Asset Sales involve transferring specific assets and liabilities from the seller to the buyer. With an asset sale, the buyer is buying the assets of the business. These assets will be identified in the purchase and sale agreement. A gain or loss is simply the difference between cash received in the sale of an asset and the book value of the asset-not a cash flow.