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Late on Remitting Sales Taxes Due to Shutdowns - How Can a Seller-Finance Dealer Comply?
- By: Jeff Martin
- On: 03/25/2020 16:49:16
- In: Texas Posts
- Comments: 0
In this week's conference call a dealer asked a question related to the Texas Comptroller's notice...
In this week's conference call a dealer asked a question related to the Texas Comptroller's notice that stated there would be a 90-day extension past the original due date to pay motor vehicle tax, but that this extension does not apply to seller-financed motor vehicle sales. Her question was “What about on a new purchase, a seller-financed deal must be transferred in 45 days?” We posed this question to the Texas Comptroller and they provided the following:
Texas Comptroller's office announced this week it is offering assistance to businesses that are struggling to pay the sales taxes they collected in February 2020 through “short-term payment agreements and, in most cases, waivers of penalties and interest.” The Texas Comptroller's office understands businesses are working to remain complaint, and in an effort to help them do so, businesses are encouraged to contact the Enforcement Hotline at 800-252-8880 to learn about your options.
Additional online resources are available through the COVID-19 emergency response webpage.
Additional online resources are available through the COVID-19 emergency response webpage.
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