Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2014
Sales and Use Tax Annotations
200.0000 CREDIT SALES AND REPOSSESSIONS—Regulation 1641
200.0060 Chattel Mortgage, Repossession and Sale of Property Secured Under. A mortgagor-manufacturer's machinery, equipment, and fixtures secured under a chattel mortgage were repossessed and sold by the mortgagee. The mortgagor neither had a say in the sale nor located the buyer for the property sold. The mortgagor was not liable for sales tax on the property sold because the sale was not made by the mortgagor and the mortgagee who sold the property was not the agent of the mortgagor as a result of the repossession. 2/4/70.