If you are selling a business Utah law requires you to: File final tax returns within 30 days of the business sale. Selling your business can signify success and earn you a tidy profit.Learn the ways of selling a business in Utah in this handy guide. Form 4797 is the Sales of Business Property form that you'll use to determine your capital gain or loss. Appendix A: Site References; Legal Description. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. Explore tax strategies for selling your business. Bessemer Trust's expert guidance covers asset vs. You must prepare a sales agreement to sell your business officially. This document allows for the purchase of assets or stock of a corporation.