Food truck purchase

[Miguel G Sandoval]

Food Truck purchase. Can I treat a food truck buy as an asset purchase and break it down in the Assets Sales Agreement to include a “good Will” value for tax purpose. For Example: truck $10,000–Refrigerator$1000–Stove $500–Good Will $1000?

Considering that tangible  and intangible assets are taxed differently. This is for a CA Corporation.

[Critter]

When you buy a business the assets are spelled out in the purchase agreement ...  so if you both agree on the prince of the hard assets then what is leftover has to be the intangible items like good will ... you will NOT break out the purchase price of the truck into categories of your own choosing if they are not spelled out in the sales agreement ... seek local professional assistance if required like an attorney. 

[Carl]

Can I treat a food truck buy as an asset purchase and break it down in the Assets Sales Agreement to include a “good Will” value for tax purpose.

That's actually more of a legal question dealing with the written sales agreement, more so than taxes. We don't offer legal advice here. I suggest you consult with competent legal authority  in your state for a definitive and legally correct answer to what I see as a perfectly valid question. Trusting those of us in this public user-to-user forum to provide a legally valid answer is dangerous.