What assets are you selling?
The like kind exchange provisions under IRC Sec. 1031 allows company to defer the recognition of taxable gains by exchanging business assets with new, similar assets.
just waiting to hear from you
Section 1031 will not allow you to reinvest and defer gains from the sale of goodwill and other intangible assets. Generally speaking, this sale (based on the information provided) is going to be taxable.
The capital gain will be determined by subtracting your "cost basis" from the selling price. Unless you purchased the business from a previous owner, the cost basis in your goodwill will be $0 and, therefore, the entire amount allocated to goodwill would be taxed as a long term capital gain - maximum tax rate of 20%. It is possible that this transaction will trigger alternative minimum tax as well. You should probably sit down with someone knowledgable and give them all of the information including the dollar amounts and your other income/expense amounts so that you have a good handle on what the actual tax implications will be.