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 Acquisition Form 8594 Instructions In Washington
Category:
State:
Multi-State
Control #:
US-00419
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Class III: Accounts receivables, mortgages, and credit card receivables. Class IV: Inventory. Class V: All assets not in classes I – IV, VI, and VII (equipment, land, building)
The following tax forms are typically used when selling a business: Form 8594, Asset Acquisition Statement. Form 4797, Sales of Business Property.
Generally, both the purchaser and seller must file Form 8594 and attach it to their income tax returns (Forms 1040, 1041, 1065, 1120, 1120-S, etc.)
Key Takeaways. Inventory is the raw materials used to produce goods as well as the goods that are available for sale. It is classified as a current asset on a company's balance sheet.