Archive January 2022

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Policies for COVID-19 at Texas Dealerships

The COVID-19 pandemic continues to leave its impact on the day-to-day operations of small businesses across Texas. As the independent automobile industry has made headlines for increasing prices and falling inventories, many dealers remain unclear about what they should do should a staff member contract the virus. This comes at a difficult time for businesses, especially since many are struggling to find and keep qualified workers on the payroll.

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:

How Long Am I Required To Keep These Records?

Selling cars inevitably creates a great deal of paperwork. Dealers often call to ask TIADA how long they must keep and store these documents. Various state agencies have different record retention requirements. In this record retention refresher, we outline some of these requirements, including a printable checklist, so dealers can purge their files of unnecessary paperwork and clutter. As always, members are encouraged to contact TIADA with any questions or concerns.