Form 50-265 "Dealer's Heavy Equipment Inventory Declaration" - Texas

What Is Form 50-265?

This is a legal form that was released by the Texas Comptroller of Public Accounts - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on November 1, 2019;
  • The latest edition provided by the Texas Comptroller of Public Accounts;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form 50-265 by clicking the link below or browse more documents and templates provided by the Texas Comptroller of Public Accounts.

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Download Form 50-265 "Dealer's Heavy Equipment Inventory Declaration" - Texas

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Dealer’s Heavy Equipment Inventory Declaration
Form 50-265
C O N F I D E N T I A L
______________________________________________________
___________________________
Appraisal District Account Number
Tax Year
______________________________________________________________________________________________________________
Send Original to: Appraisal District Name, Address, City, State, ZIP Code
______________________________________________________________________________________________________________
Send Copy to: Assessor-Collector’s Name, Address, City, State, ZIP Code
GENERAL INFORMATION: This form is for heavy equipment inventory dealers to declare heavy equipment inventory (Tax Code Section 23.1241).
FILING INSTRUCTIONS: This form and all supporting documentation must be filed with the appraisal district office and the county tax assessor-collector’s office in the county in
which the business is located. Do not file this document with the Texas Comptroller of Public Accounts.
SECTION 1: Dealer Information
______________________________________________________________________________________________________________
Name of Dealer
______________________________________________________________________________________________________________
Mailing Address, City, State, ZIP Code
__________________________________________
__________________________________________________________________
Phone Number
(area code and number)
Email Address
SECTION 2: Authorized Representative
If you are an individual dealer filing this application on your own behalf, skip to Section 3; all other applicants are required to complete Section 2.
Indicate the basis for your authority to represent the dealer in filing this application:
Officer of the company
General partner of the company
Attorney for the company
Agent for tax matters appointed under Tax Code Section 1.111 with completed and signed Form 50-162
__________________________________________________________________________________________
Other and explain basis:
______________________________________________________________
_______________________________________________
Name of Authorized Representative
Title of Authorized Representative
______________________________________________________________________________________________________________
Mailing Address, City, State, ZIP Code
__________________________________________
__________________________________________________________________
Phone Number
(area code and number)
Email Address
SECTION 3: Business Information
Attach a list with the name and business address of each location at which you conduct business. If your appraisal district account number is not available, attach a copy of your
tax bill or a copy of appraisal district or tax office correspondence concerning this account.
______________________________________________________________
_______________________________________________
Name of Business
Starting Date of Business
(if not in business Jan. 1 of this year)
______________________________________________________________________________________________________________
Business Address, City, State, ZIP Code
SECTION 4: Units Sold, Leased or Rented and Transaction Amounts
Provide the number of units sold, leased or rented and the transaction amounts for the preceding year for the following categories. For category definitions, see Important
Information.
Part 1: Number of Units of Heavy Equipment
Provide the breakdown of sales, rentals and leases for the previous 12-month period corresponding to the prior tax year. Provide the number of units for the inventory you are
declaring. If you were not in business on Jan. 1 of the preceding year, report the sales, leases and rentals for the months you were in business.
_________________________________
_______________________________
_______________________________
_________________________________
Net Heavy Equipment Inventory
Fleet Transactions
Dealer Sales
Subsequent Sales
Part 2: Transaction Amounts
Provide the sales, lease and rental transaction amounts for the previous 12-month period corresponding to the prior tax year. Provide the transaction amounts for the inventory
you are declaring. If you were not in business on Jan. 1 of the preceding year, report the transaction amounts for the months you were in business.
$
________________________________
$
______________________________
$
______________________________
$
________________________________
Net Heavy Equipment Inventory
Fleet Transactions
Dealer Sales
Subsequent Sales
comptroller.texas.gov/taxes/property-tax
Form developed by: Texas Comptroller of Public Accounts, Property Tax Assistance Division
For additional copies, visit:
50-265 • 11-19/9
Dealer’s Heavy Equipment Inventory Declaration
Form 50-265
C O N F I D E N T I A L
______________________________________________________
___________________________
Appraisal District Account Number
Tax Year
______________________________________________________________________________________________________________
Send Original to: Appraisal District Name, Address, City, State, ZIP Code
______________________________________________________________________________________________________________
Send Copy to: Assessor-Collector’s Name, Address, City, State, ZIP Code
GENERAL INFORMATION: This form is for heavy equipment inventory dealers to declare heavy equipment inventory (Tax Code Section 23.1241).
FILING INSTRUCTIONS: This form and all supporting documentation must be filed with the appraisal district office and the county tax assessor-collector’s office in the county in
which the business is located. Do not file this document with the Texas Comptroller of Public Accounts.
SECTION 1: Dealer Information
______________________________________________________________________________________________________________
Name of Dealer
______________________________________________________________________________________________________________
Mailing Address, City, State, ZIP Code
__________________________________________
__________________________________________________________________
Phone Number
(area code and number)
Email Address
SECTION 2: Authorized Representative
If you are an individual dealer filing this application on your own behalf, skip to Section 3; all other applicants are required to complete Section 2.
Indicate the basis for your authority to represent the dealer in filing this application:
Officer of the company
General partner of the company
Attorney for the company
Agent for tax matters appointed under Tax Code Section 1.111 with completed and signed Form 50-162
__________________________________________________________________________________________
Other and explain basis:
______________________________________________________________
_______________________________________________
Name of Authorized Representative
Title of Authorized Representative
______________________________________________________________________________________________________________
Mailing Address, City, State, ZIP Code
__________________________________________
__________________________________________________________________
Phone Number
(area code and number)
Email Address
SECTION 3: Business Information
Attach a list with the name and business address of each location at which you conduct business. If your appraisal district account number is not available, attach a copy of your
tax bill or a copy of appraisal district or tax office correspondence concerning this account.
______________________________________________________________
_______________________________________________
Name of Business
Starting Date of Business
(if not in business Jan. 1 of this year)
______________________________________________________________________________________________________________
Business Address, City, State, ZIP Code
SECTION 4: Units Sold, Leased or Rented and Transaction Amounts
Provide the number of units sold, leased or rented and the transaction amounts for the preceding year for the following categories. For category definitions, see Important
Information.
Part 1: Number of Units of Heavy Equipment
Provide the breakdown of sales, rentals and leases for the previous 12-month period corresponding to the prior tax year. Provide the number of units for the inventory you are
declaring. If you were not in business on Jan. 1 of the preceding year, report the sales, leases and rentals for the months you were in business.
_________________________________
_______________________________
_______________________________
_________________________________
Net Heavy Equipment Inventory
Fleet Transactions
Dealer Sales
Subsequent Sales
Part 2: Transaction Amounts
Provide the sales, lease and rental transaction amounts for the previous 12-month period corresponding to the prior tax year. Provide the transaction amounts for the inventory
you are declaring. If you were not in business on Jan. 1 of the preceding year, report the transaction amounts for the months you were in business.
$
________________________________
$
______________________________
$
______________________________
$
________________________________
Net Heavy Equipment Inventory
Fleet Transactions
Dealer Sales
Subsequent Sales
comptroller.texas.gov/taxes/property-tax
Form developed by: Texas Comptroller of Public Accounts, Property Tax Assistance Division
For additional copies, visit:
50-265 • 11-19/9
Dealer’s Heavy Equipment Inventory Declaration
Form 50-265
SECTION 5: Market Value of Heavy Equipment Inventory
Provide the market value of your net heavy equipment inventory for the current tax year, as computed under Tax Code Section 23.1241. Market value on Jan. 1 is total annual sales
(less fleet transactions, dealer sales, and subsequent sales) for the previous 12-month period corresponding to the prior tax year divided by 12. If you were not in business on Jan. 1
of the preceding year, report the number of months you were in business and the total number of sales for those months.
Total annual sales includes the sales price for each sale of heavy equipment inventory in a 12-month period PLUS lease and rental payment(s) received for each lease or rental in
that 12-month period. This will be the same amount as the net heavy equipment inventory transaction amount (reported above) and divide by 12 to yield your market value for
this tax year. If you were not in business on Jan. 1 of the preceding year, the chief appraiser will estimate your inventory’s market value.
$
________________________________
÷ 12 =
_________________________
Net Heavy Equipment Inventory Sales, Leases
Market Value for Current Tax Year
and Rentals for Prior Year
SECTION 6: Certification and Signature
If you make a false statement on this form, you could be found guilty of a Class A misdemeanor or a state jail felony under Section 37.10, Penal Code.
____________________________________________________________________
I,
, swear or affirm that each fact contained in the application is true
Printed Name of Dealer or Authorized Representative
and correct and that I am the dealer (or his or her authorized representative) of the heavy equipment inventory described in this declaration.
____________________________________________________________
________________________________________
Signature of Dealer or Authorized Representative
Date
Important Information
GENERAL INFORMATION: This form is for heavy equipment inventory dealers to
DEFINITIONS:
declare heavy equipment inventory (Tax Code Section 23.1241).
Net Heavy Equipment Inventory – Heavy equipment units that have been
FILING INSTRUCTIONS: You must file an original completed declaration with the
sold, leased, or rented less fleet transactions, dealer sales and subsequent
appraisal district’s chief appraiser and a copy of the original with the assessor-collector.
sales. Heavy equipment means self-propelled, self-powered or pull-type
Do not file this document with the Texas Comptroller of Public Accounts. Contact
equipment, including farm equipment or a diesel engine, which weighs at
information for appraisal districts and county assessor-collectors may be found on the
least 1,500 pounds and is intended to be used for agricultural, construction,
Comptroller’s website.
industrial, maritime, mining or forestry uses. The term does not include a
motor vehicle that is required to be titled under Transportation Code Chapter
FILING DEADLINES: Except as provided by Tax Code Section 23.1242(k), a declaration
501 or registered under Transportation Code Chapter 502.
must be filed not later than Feb. 1 each year. If the dealer is not in business on Jan. 1, a
declaration must be filed not later than 30 days after starting the business.
Fleet Transactions – The sale of five or more items of heavy equipment from
your inventory to the same person within one calendar year.
FILING PENALTIES: In addition to other penalties provided by law, a dealer who fails
Dealer Sales – Sales of heavy equipment to dealers.
to file or timely file a required declaration must forfeit a penalty of $1,000 for each
month or part of a month in which a declaration is not filed or timely filed after it is
Subsequent Sales – A dealer-financed sale that, at the time of sale, has dealer
due. A tax lien attaches to the dealer’s business personal property to secure payment
financing from your inventory in this same calendar year. The term does not
of the penalty.
include a rental or lease with an unexercised purchase option or without a
OTHER IMPORTANT INFORMATION: The chief appraiser may examine the books and
purchase option.
records of a dealer including documentation regarding the applicability of Tax Code
Sections 23.1241 and 23.1242 and sales records to substantiate the information filed in
this declaration.
comptroller.texas.gov/taxes/property-tax
For additional copies, visit:
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