Legal Question in Real Estate Law in Wisconsin

Tax's on Sale of an Business.

I cannot answer your question due to insufficient information. My advice would be consult a CPA on any taxation matters, or an attorney who is a tax specialist (which I am not). Generally speaking, even sale of personal property used in a business can carry tax consequences if depreciable assets are involved. There are also numerous other forms of tax liability to which businesses are subject, from sales tax to payroll tax to income tax. Even inheritance taxes can come into play, of a wealthy deceased person had an interest in the business. Finally, you do not even tell me who owns the personal property--is it the business or the bank, or both? Sorry!