This form is an Asset Purchase Agreement. The seller agrees to sell to the buyer certain assets which are listed in the agreement. The form also provides that the buyer will not be responsible for any unfilled orders from the customers of the seller.
Asset Purchase Buy With Purchase In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00419
Format:
Word;
Rich Text
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For more information or to speak with an attorney about your upcoming asset purchase, please call us in Forest Hills at . If the business you are buying includes business assets such as furniture or office equipment, you must pay sales tax on them.1.2 Agreement to Purchase. Asset purchase agreements can be a useful way to create a new business while leaving unwanted resources and potential issues with the seller. An APA spells out the conditions and terms under which a seller will transfer all of the assets that belong to the business to a buyer. It should not be read to mean that all asset sales in a particular state will be exempt from tax. A taxable asset purchase allows the buyer to "step up," or increase, the tax basis of the acquired assets to reflect the purchase price.