Our free online guide for business owners covers Pennsylvania sales tax registration, collecting, filing, due dates, nexus obligations, and more. If you are thinking about purchasing a business from someone, you should be aware of Pennsylvania's Bulk Sale Law.A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions. The election provides for no GST (or HST in the HST provinces) to be payable in respect of the purchase and sale of the assets and reduces the cash. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price. Learn about Allegheny County's Division of Purchasing and Supplies and how to work with the county as a supplier. 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.