Free Dealer's Vessel, Trailer and Outboard Motor Inventory Declaration / Confidential - Texas

50-259 (Rev. 10-07/5) Page 1 of 2 YEAR

DEALER'S VESSEL, TRAILER AND OUTBOARD MOTOR INVENTORY DECLARATION/CONFIDENTIAL
Send original to: Appraisal District name and address Phone (area code and number)

Send copy to: County Tax Office and address

Phone (area code and number)

INSTRUCTIONS: If you own an inventory subject to the provisions of Tax Code Sec. 23.124, you must file this dealer's vessel, trailer and outboard motor inventory declaration with the chief appraiser and a copy with the county tax assessor-collector not later than February 1 of each year. If you were not in business on January 1, you must file this statement not later than 30 days after starting business. Failure to file this form is a misdemeanor offense punishable by a fine not to exceed $500. Each day during which you fail to comply is a separate offense. SEE BACK OF FORM FOR MORE INFORMATION ON FILING AND PENALTIES.

Step 1: Owner's name and address

Owner's name Current mailing address (number and street) City, town or post office, state, ZIP code Person completing application Phone (area code and number) Title

Step 2: Required information about the business

Name of each business at one location (attach additional pages if necessary)

Address of this location (street, number, city, state and ZIP code + 4) (attach additional pages if necessary)

Owner's dealer and manufacturer number(s) issued by the Texas Parks and Wildlife Department (attach additional pages if necessary)

Step 3: Information about the business

Give appraisal district account number if available, or attach tax bill or copy of appraisal or tax office correspondence concerning this account. (Attach additional pages if necessary).
Starting date of business, if not in business on January 1 of this year.

Step 4: Ownership statement

(Owner's name)

is the owner of a dealer's vessel, trailer and outboard motor inventory.

Step 5: Breakdown of sales and sales amounts

Breakdown of sales (number of units sold) for the previous 12-month period corresponding to the prior tax year. If you were not in business for the entire 12-month period, report the sales for the months you were in business.
Net vessel, trailer and outboard motor inventory Fleet sales Dealer sales Subsequent sales

Breakdown of sales amounts for the previous 12-month period corresponding to the prior tax year. If you were not in business for the entire 12-month period, report the sales for the months you were in business.
Net vessel, trailer and outboard motor inventory
$

Fleet sales
$

Dealer sales
$

Subsequent sales
$

Step 6: Market value of your inventory

State the market value of your net vessel, trailer and outboard motor inventory for the current tax year, as computed under Tax Code Sec. 23.124 (total annual sales from the inventory for the previous 12-month period corresponding to the prior tax year divided by 12 equals market value). If you were not in business for the entire 12-month period, report the number of months you were in business and the total number of sales for those months. The chief appraiser will determine your inventory's market value.

Net Vessel, Trailer and Outboard Motor Inventory Sales for Prior Year $ _________________________________

Market Value for Current Tax Year

÷

12

= ______________
Date

Step 7: Sign the form

Authorized signature

If you make a false statement on this application, you could be found guilty of a Class A misdemeanor or a state jail felony under Texas Penal Code Section 37.10.

50-259 (Rev. 10-07/5) Back

INSTRUCTIONS FOR COMPLETING

Dealer's Vessel, Trailer and Outboard Motor Inventory Declaration
Filing deadlines: You must file this declaration not later than February 1 each year. If you were not in business for the entire year, you must file this declaration not later than 30 days after starting your business. Be sure to keep a completed copy for your files and a blank copy of the form for next year's filing. Filing places: You must file the original completed declaration with the county appraisal district's chief appraiser. You must file a copy of the original with the county tax assessor-collector. The addresses and phone numbers for both offices are at the top of the form. Filing penalties: Failure to file this form is a misdemeanor offense punishable by a fine not to exceed $500. Each day that you fail to comply is a separate offense. In addition, a tax lien attaches to your business personal property to secure the penalty's payment. The district attorney, criminal district attorney or county attorney shall collect the penalty, with action in the county in which you maintain your principal place of business or residence. You also will forfeit a penalty of $1,000 for each month or part of a month in which this declaration is not filed. Review of records: The chief appraiser may examine your books and records for (1) the document issued by Texas Parks and Wildlife Department for your dealer and manufacturer number; (2) documents to determine if this declaration applies to you; and (3) sales records to check information on this declaration. To examine your records, the chief appraiser must deliver personally a written request to your records custodian. You have at least 15 days to respond to the request, or you may seek court action for relief from complying with the request. Failure to comply with the request is a misdemeanor punishable by a fine not to exceed $500. Each day that you fail to comply is a separate violation. Step 1: Owner's name and address. Give the corporate, sole proprietorship or partnership's name, including mailing address and telephone number of the actual business location as required by the inventory declaration (not of the owner). Step 2: Required information about the business. Give the name of the business if different from the corporation or individual's name. The address here is the actual physical location of the business. Step 3: Information about the business. Include your business' account number from the appraisal district's notice of appraised value. Give the date your business opened if not in business January 1 of this year. Step 4: Ownership statement. Give the owner's name. Step 5: Breakdown of sales and sales amounts. Complete the boxes on number of sales and sales amounts for the preceding year. The top row of boxes is the number of units sold in each category. The bottom row of boxes is the dollar amount sold in each category. The categories include: Vessel, trailer and outboard motor inventory ­ sales of vessels, trailers and outboard motors. A vessel has the meaning in Sec. 31.003, Parks and Wildlife Code, and does not include those more than 65 feet in length (excluding sheer) and canoes, kayaks, punts, rowboats, rubber rafts or other vessels under 14 feet in length when paddled, poled, oared or windblown. An outboard motor has the meaning in Section 31.003, Parks and Wildlife Code. A vessel also includes a trailer designed to carry a vessel and is a trailer or semitrailer defined by Transportation Code Section 501.002. Fleet sales ­ vessels, trailers or outboard motors included in the sale of five or more vessels, trailers or outboard motors from your inventory to the same buyer within one calendar year. Dealer sales ­ sales of vessels, trailers or outboard motors to another dealer. Subsequent sales ­ dealer-financed sales of vessels, trailers or outboard motors that, at the time of sale, have dealer financing from your inventory in this same calendar year. The first sale of a dealer-financed vessel, trailer or outboard motor is reported as a vessel, trailer and outboard motor inventory sale, with sale of this same vessel, trailer or outboard motor later in the year classified as a subsequent sale. Net vessel, trailer and outboard motor inventory ­ Vessel, trailer and outboard motor inventory less fleet sales, dealer sales and subsequent sales. Step 6: Market value of your inventory. Enter the sales amount in the net vessel, trailer and outboard motor inventory breakdown (see Step 5, the first box in the second row) and divide by 12 to yield your market value for this tax year. If you were not in business for the entire preceding year, the chief appraiser will determine your inventory's market value based on the sales that you do report in Step 5. Step 7: Sign the form. Sign and enter the date if you are the person completing this declaration.