How do I Get a Business License for Repossessions in Ohio?

Anyone can get a business license for repossessions in Ohio.

Operating a repossession business in Ohio allows you to repossess automobiles, boats, trailers and other property that people have stopped making payments on or failed to pay in full. While some states require a person to have a license to perform these repossessions, the state of Ohio does not. Instead they only require a repossession business to register and get licensed as a general business in Ohio.

Instructions

1. Register with the federal government. Obtain an employer identification number (EIN) by registering your repossession business with the Internal Revenue Service (IRS). Use this number on all documents and forms when registering your business in the state of Ohio.

2. List your business with Ohio. Register your business name with the Ohio Secretary of State by completing the form applicable for the type of business your repossession company is. For example, a corporation fills out a different form than a sole proprietorship or limited liability corporation.

3. Complete employer requirements. If you employ anyone other than yourself in your business, you must complete the forms required to pay unemployment compensation taxes to the state of Ohio. You also must pay for worker's compensation coverage to protect your business in the event someone is injured while working for you.

4. Ask about a local business license. Contact your city or county government to learn if a local business license is required for the city or county where your business is located. Complete the application form and pay the licensing fee if one is required.

References

• Ohio Secretary of State: Business Registration Forms
• Ohio: Worker's Compensation Form
• Ohio: Office of Unemployment Compensation

Resources

• Ohio: Starting a Business in Ohio
• Internal Revenue Service: Employer Identification Number