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. For all counties (except Harris, Dallas, and Tarrant counties), enter the type of property that the asset classifies for reporting purposes.The annual inventory, through physical observation where applicable, of assets in the Tarrant County. A somewhat basic level high level presentation on the nuts and bolts of asset purchase sale transactions. Before you buy an existing business, find out if the business owes any Texas taxes. 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. No GST Level 1 courses in your territory? Check out our GST Level 1 Online Certification Course or consider hosting GST at your agency for free!