Form 50 244 2011-2025

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The document is a Dealer's Motor Vehicle Inventory Declaration Form (50-244) required for motor vehicle dealers in Texas to declare their inventory for property tax purposes. It outlines filing instructions, deadlines, penalties for non-compliance, and provides details on how to calculate the market value of the inventory. Dealers must file this declaration with both the county appraisal district and the county tax office by February 1 each year, or within 30 days of starting business if applicable.

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Click ‘Get Form’ to open it in the editor.
Begin by filling out the Dealer Information section. Enter the name of the dealer, mailing address, city, state, ZIP code, and phone number.
In the All Business Locations section, attach a list detailing each business location and their corresponding general distinguishing numbers issued by the Texas Department of Motor Vehicles.
Provide Business Location Information by entering the business name, general distinguishing number, physical address, and account number for the inventory being declared.
Complete the Number of Units Sold and Sale Totals section. Report sales figures for motor vehicle inventory, fleet transactions, dealer sales, and subsequent sales for the previous tax year.
State the market value of your motor vehicle inventory for the current tax year based on prior year sales data.
Finally, sign and date the declaration to certify ownership of the dealer’s motor vehicle inventory.

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Versions	Form popularity	Fillable & printable
2017	4.8 Satisfied (87 Votes)
2015	4.4 Satisfied (472 Votes)
2013	4.2 Satisfied (42 Votes)
2011	4.2 Satisfied (74 Votes)
1999	4.3 Satisfied (48 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do car dealers pay taxes on inventory?

Car dealerships do not pay tax on the vehicles on their lot. They dont pay taxes because they are a franchise, so it works much the same as when you buy items from a grocery store. Essentially, the tax is passed on to the customers like a sales tax.

Do you pay taxes on inventory in Texas?

Texas is one of just nine states where small business owners pay taxes on the value of their inventory for sale, their personal property, and everything else used to generate income.

What is vehicle inventory 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.

What is the even trade tax on vehicles in Texas?

Texas law imposes a $5 even trade transfer tax on each motor vehicle acquired in an even trade. Even trades of motor vehicles are excluded from standard presumptive value (SPV) procedures.

How to avoid inventory tax?

5 tips to reduce inventory tax Liquidate slow-moving inventory. Store inventory in a state that does not have an inventory tax burden. Sell through inventory before the assessment date of your state where inventory resides. Improve demand forecasting to avoid overspending on inventory.

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.

Form 50 244 2011-2025

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