Form 50-246 - Dealer'S Motor Vehicle Inventory Tax Statement/confidential Page 3
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3P r o p e r t y T a x
D e a l e r ’ s M o t o r V e h i c l e I n v e n t o r y T a x S t a t e m e n t / C o n f i d e n t i a l
Form 50-246
Instructions
If you are an owner of an inventory subject to Sec. 23.121, Tax Code, you
Step 3: Information on each vehicle sold during the reporting month.
must file this dealer’s motor vehicle inventory tax statement as required by
Complete the information on each motor vehicle sold, including the
Sec. 23.122.
date of sale, model year, model make, vehicle identification number,
purchaser’s name, type of sale, sales price and unit property tax. The
Filing deadlines: You must file this statement on or before the 10th day of
footnotes include:
each month. If you were not in business for the entire year, you must file this
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statement each month after your business opens, but you do not include
Type of Sale: Place one of the following codes by each sale reported:
any tax payment until the beginning of the next calendar year. You are
MM - motor vehicle inventory - sales of motor vehicles. A motor
presumed to have started business on the date you were issued a dealer’s
vehicle is a fully self-propelled vehicle with at least two wheels which
general distinguishing number. The chief appraiser, however, has sole
has the primary purpose fo transporting people or property and
discretion to designate a different starting date. However, if your dealership
includes a towable recreationa vehicle. Motor vehicle does not include
was the purchaser of an existing dealership and you have a contract with the
equipment or machinery designed and intended for a specific work
prior owner to pay the current year motor vehicle inventory taxes owed, then
related purpose other than transporting people or property. Only this
you must notify the chief appraiser and the county tax assessor-collector of
type of sale has a unit property tax value (see below).
this contract and continue to pay the monthly tax payment. Be sure to keep
a completed copy of the statement for your files and a blank copy of the
FL - fleet sales - motor vehicles included in the sale of five or more
form for each month’s filing.
motor vehicles from your inventory to the same buyer within one
calendar year.
Filing places: You must file the original statement with your monthly tax
payment with the county tax assessor-collector. You must file a copy of
DL - dealer sales - sales of vehicles to another Texas dealer or dealer
the original completed statement with the county appraisal district’s chief
who is legally recognized in another state as a motor vehicle dealer.
appraiser. The addresses and phone numbers for both offices are at the top
of the form. Texas Department of Transportation has authority to view this
SS - subsequent sales - dealer-financed sales of motor vehicles
form in auditing dealer license compliance.
that, at the time of sale, have dealer financing from your motor vehicle
inventory in this same calendar year. The first sale of a dealer-financed
Filing penalties: Late filing incurs a penalty of 5 percent of the amount
vehicle is reported as a motor vehicle inventory sale, with sale of this
due. If the amount is not paid within 10 days after the due date, the penalty
same vehicle later in the year classified as a subsequent sale.
increases for an additional penalty of 5 percent of the amount due. Failure
to file this form is a misdemeanor offense punishable by a fine not to exceed
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Sales Price: The price as set forth on the Application for Certificate of
$100. Each day that you fail to comply is a separate offense. In addition, a
Title, or would appear if that form was used.
tax lien attaches to your business personal property to secure the penalty’s
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Unit Property Tax: To compute, multiply the sales price by the unit
payment. The district attorney, criminal district attorney, county attorney,
property tax factor. For fleet, dealer and subsequent sales that are
collector or a peraon designated by the collector shall collect the penalty,
not included in the net motor vehicle inventory, the unit property tax is
with action in the county in which you maintain your principal place of
$-0-. The unit property tax factor is the aggregate tax rate divided by
business or residence. You also will forfeit a penalty of $500 for each month
12 and then by $100. Calculate your aggregate tax rate by adding the
or part of a month in which this statement is not filed after it is due.
property tax rates for all taxing units in which the inventory is located.
Annual property tax bill: You will receive a separate tax bill(s) for your
Use the property tax rates for the year preceding the year in which the
motor vehicle inventory for each taxing unit that taxes your property, usually
vehicle is sold. If the county aggregate tax rate is expressed in dollars
in October. The county tax assessor-collector also will receive a copy of
per $100 of valuation, divide by $100 and then divide by 12. Dividing
the tax bill(s) and will pay each taxing unit from your escrow account. If
the aggregate rate by 12 yields a monthly tax rate and by $100 to a
your escrow account is not sufficient to pay the taxes owed, the county tax
rate per $1 of sales price.
assessor-collector will send you a tax receipt for the partial payment and a
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Total Unit Property Tax for This Month: Enter only on last page of
tax bill for the amount of the deficiency. You must send to the county tax
monthly statement.
assessor-collector the balance of total tax owed. You may not withdraw
funds from your escrow account.
Step 4: Total sales. Provide totals on last page of statement of the
number of units and the sales amounts for vehicles sold in each category.
Step 1: Owner’s name and address. Give the corporate, sole
proprietorship or partnership’s name, including mailing address and
Step 5: Sign the form. Sign and enter the date if you are the person
telephone number of the actual business location required by the
completing this statement.
monthlhy statement (not of the owner). Give the person’s name and title
that completed the statement.
Step 2: Information about the business. Give the address of the actual
physical location of the business. Include your business’ name and the
account number from the appraisal district’s notices.
For more information, visit our Web site:
50-246 • 09-09/8 • Page 3
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