Archive January 2022
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Representative Trent Ashby Speaks with Dealers in Lufkin
TIADA hosted State Representative Trent Ashby on January 11, 2022. Organizing these events with local and state legislators is one of the most important things we do as an association. We count Representative Ashby among the many leaders who have taken the time to speak directly with independent automobile dealers throughout the state.
Dates To Remember: Special Inventory Tax (VIT)
TIADA recently received several calls to the Compliance Consultation Service regarding penalties for late or missing special inventory tax payments. Few dealer compliance issues in Texas raise more questions than how to handle collecting and paying special inventory tax. This week, we review key dates and corresponding forms that need to be submitted to help dealers stay compliant and avoid significant fines.
Odometer Disclosure Exemption? Not So Fast...
The odometer disclosure exemption changed just over a year ago, on January 1, 2021. The new requirements have affected a significant number of previously exempted vehicles across Texas. In 2021, we reached out to the Texas Department of Motor Vehicles to help answer key questions dealers are asking regarding this regulatory change issued by the National Highway Traffic Safety Administration and what actions dealers should be prepared to take. TxDMV provided the following to help TIADA members: