Annual Vehicle Inventory Declaration

Cathy Talcott, Comal County Tax Assessor Collector and President of the Tax Assessor-Collectors Association of Texas, reminds dealers “to file the original of their Dealer's Motor Vehicle Inventory Declaration (Comptroller form 50-246) with their local County Appraisal District and NOT the local Tax Assessor Collector.”  The Tax Assessor Collector should only receive a COPY of the vehicle inventory declaration.
Comptroller Form 50-246 ( provides the following information:

DECLARATION DEADLINES: Except as provided by Tax Code Section 23.122(l), a declaration must be filed not later than Feb. 1 of each year or, in the case of a dealer who was not in business on Jan. 1, not later than 30 days after commencement of the business. A dealer is presumed to have commenced business on the date of issuance of a dealer's general distinguishing number as provided by Transportation Code Chapter 503. Notwithstanding this presumption, a chief appraiser may, at his or her sole discretion, designate another date on which a dealer commenced business.

PENALTIES: A dealer who fails to file a declaration commits a misdemeanor offense punishable by a fine not to exceed $500. Each day during which a dealer fails to comply is a separate violation. In addition to other penalties provided by law, a dealer who fails 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 due. A tax lien attaches to the dealer's business personal property to secure payment of the penalty.

Have you updated your 2020 tax rates?  Your local tax assessor collector should have mailed the updated tax amounts to you.  Contact your local tax assessor collector if you have not received your updated rates.

Update OCCC finance charges.  TIADA recently published the 2020 maximum finance charges for 2020 in the December Texas Dealer magazine.
January is also a good time to review and pay your Texas Franchise Taxes with the Comptroller's Office if applicable.


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