Form 50 246 2014-2025

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The document is a Dealer's Motor Vehicle Inventory Tax Statement (Form 50-246) that must be filed by motor vehicle dealers in Texas. It outlines the requirements for reporting vehicle sales and associated property taxes to the county tax assessor-collector and appraisal district. The form includes instructions for filing deadlines, penalties for non-compliance, and options for alternative tax filing methods. It also provides sections for dealer information, vehicle inventory details, and total sales reporting.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the Dealer Information. Fill in your name, mailing address, city, state, ZIP code, and phone number. Ensure that the name of the person completing the statement is also included.
Proceed to provide your Business Name and Physical Address. If available, include your appraisal district account number and General Distinguishing Number (GDN).
In the Vehicle Inventory Information section, list each motor vehicle sold during the reporting month. Include details such as date of sale, model year, make, vehicle identification number (VIN), purchaser’s name, type of sale, sales price, and total unit property tax.
Next, summarize the Total Units Sold and Total Sales for different categories like Motor Vehicle Inventory and Fleet Transactions. Input both quantity and sales amounts.
Finally, sign and date the form on the last page. Ensure all information is accurate to avoid penalties.

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Versions	Form popularity	Fillable & printable
2017	4.8 Satisfied (147 Votes)
2014	4.3 Satisfied (64 Votes)
2013	4.3 Satisfied (45 Votes)
2012	4 Satisfied (41 Votes)
2009	4 Satisfied (56 Votes)
1999	4 Satisfied (45 Votes)

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How much is the Texas inventory tax?

States that have inventory tax StateState or local LevelHigh-Low tax rates Tennessee State 0.37-1.37% Texas Local 0.37-2.58% Vermont Local 1.86-2.13% Virginia State and Local 0.40-1.33%7 more rows

How is commercial property tax calculated Texas?

Property must be taxed on its current market value: The market value is the price the property would likely sell for if you sold it today, under fair market conditions, where both the buyer and seller are somewhat seeking the best price, and there is no pressure to buy or sell.

How is Texas unemployment tax rate calculated?

The minimum tax rate for 2025 is 0.25 percent. The maximum tax rate for 2025 is 6.25 percent. You pay unemployment tax on the first $9,000 that each employee earns during the calendar year. Your taxable wages are the sum of the wages you pay up to $9,000 per employee per year.

How does Texas calculate franchise tax?

Franchise tax is based on a taxable entitys margin. Unless a taxable entity qualifies and chooses to file using the EZ computation, the tax base is the taxable entitys margin and is computed in one of the following ways: total revenue times 70 percent; total revenue minus cost of goods sold (COGS);

What is the unit property tax factor in Texas?

Unit property tax factor means a number equal to one- twelfth of the prior year aggregate tax rate at the location where a dealers motor vehicle inventory is located on January 1 of the current year.

What is special inventory tax in Texas?

Texas law provides for the special appraisal of dealers inventory including heavy equipment, motor vehicles, vessels and outboard motors and manufactured housing retailers. Special inventory appraisal is generally based on sales.

How is Texas vit tax calculated?

The VIT is based on the sales price on Form 130-U, Application for Texas Title and/or Registration (PDF), Box 38, after deducting any rebate, including factory and dealer rebates passed on to the customer. The net sales price in Box 38 is the sales price used for the VIT.

What is the Vit tax in Texas?

The VIT is a property tax assessed on the dealer, not the purchaser, and is a negotiable item on the sales agreement. Moreover, the VIT is not, by statute, a part of total consideration. Dealers may, however, separately list a reimbursement of the VIT on the sales agreement.

Form 50 246 2014-2025

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