Form 50-159 Aircraft Rendition of Taxable Property - Texas

What Is Form 50-159?

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.

FAQ

Q: What is Form 50-159?
A: Form 50-159 is a document used in Texas for reporting and assessing aircraft as taxable property.

Q: Who needs to file Form 50-159?
A: Anyone who owns or manages taxable aircraft in Texas needs to file Form 50-159.

Q: When is Form 50-159 due?
A: Form 50-159 is due to the county appraisal district by April 1st of each year.

Q: What information is required on Form 50-159?
A: Form 50-159 requires information such as aircraft identification, the name and address of the owner, and the aircraft's market value.

Q: Are there any exemptions for aircraft on Form 50-159?
A: Yes, certain types of aircraft may qualify for exemptions, such as government-owned aircraft or aircraft used for agricultural purposes. Specific criteria apply.

Q: Is there a penalty for not filing Form 50-159?
A: Yes, failure to file Form 50-159 may result in a penalty equal to 10% of the appraised value of the aircraft.