I have recently received notice from the Kentucky Department of Revenue that our Company is required to collect/remit sales tax on the sale of repossessed collateral. We are a consumer loan company that secures short term loans with personal property and titled vehicles. Upon an account going into default, collateral is repossessed and subsequently sold. We have never collected/remitted sales tax for this type of Sale. Help ! ! ! Is it required or as section 139.470(4) states, would this transaction be exempt as a result of being considered an "occassional sale"?