This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Form 8594 For Stock Purchase In California
Category:
State:
Multi-State
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
More info
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. Form 8594 must also be filed if the purchaser or seller is amending an original or a previously filed supplemental Form.8594 because of an increase or decrease. Form 8594 is a tax document required in certain business sales where the buyer acquires assets rather than stock or equity. The tax professional who comes into contact with such a situation should consider the need to file Form 8594, or to revise the valuation of specific assets. This form is used to report the agreed-upon allocation of the purchase price across various categories of business assets. Who Must File Form 8594? Both the seller and purchaser of a group of assets that make up a trade or business need to file Form 8594. At closing, an IRS form 8594 is filed with the IRS showing the allocation for the transaction.