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. It should not be read to mean that all asset sales in a particular state will be exempt from tax. How do I file my Personal Property Asset Listing? Personal property asset listings can be electronically filed through the county assessor's website. Sales of capital assets and consumable supplies are retail sales. Washington state is one of only nine states in the country without a personal income tax, and property taxes are capped at 1 percent of a home's value. Sales tax may even be due when transferring assets in exchange for stock, absent a special exemption.