You complete Part II to reduce the tax. Ohio's auto repossession law says that the vehicle lender or secured party can repossess your vehicle if you are just one day late with your payment.The dealer must pay the tax to the clerk of courts when title is obtained. Use this tool to get answers to your tax questions. Choose a topic, then enter basic information to find your answer. The IRS provides a list of lenders that must report using a Form 1099C. What types of charges are included in a taxable motor vehicle towing service? For the list of complete exemptions, see R.C. 1334.12. What disclosures are required in a business opportunity agreement? Many financing contracts allow for a repossession if, in the opinion of the lender, you may not be able to make future payments.
