Form 50-260, Dealers Vessel and Outboard Motor Inventory Tax Statement, is the monthly statement on which a dealer reports vessels and outboard motors sold from inventory and the unit property tax due on them. It is one of the Parker County property tax forms handled by the Parker County Tax Assessor-Collector, which collects special inventory taxes, and it is filed with the appraisal district as well. On FillingPDF you can fill out the form online and download or print the completed PDF; the form itself is published at parkercountytx.gov, and filing follows the offices described below.
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What is 50-260?
Form 50-260, Dealers Vessel and Outboard Motor Inventory Tax Statement, is the monthly statement on which a dealer reports vessels and outboard motors sold from inventory and the unit property tax due on those sales, filed with the county appraisal district and tax assessor-collector.
The form is a Texas Comptroller of Public Accounts form and is marked CONFIDENTIAL. It is filed under Tax Code Section 23.125 together with a payment equal to the total unit property tax assigned to all vessels and outboard motors sold in the preceding month. A separate statement is filed for each business location, and the dealer retains documentation.
The form has five steps: dealer information, business location information, inventory information for each sale in the reporting month, a breakdown of units sold and sales amounts, and a signature. Each sale is coded by type: VM (vessel and outboard motor inventory), FL (fleet transaction), DL (dealer sale) or SS (subsequent sale). Only VM sales carry a unit property tax; for FL, DL and SS sales the tax is -0-.
The copy published by Parker County lists the Tax Assessor-Collector and the Parker County Appraisal District as the local offices. The Tax Assessor-Collector's page lists Special Inventory Tax Collection and, next to this statement, a Dealers Vessel and Outboard Motor Inventory Declaration. That office does not appraise property: appraisals come from the Parker County Appraisal District.
Who needs to file 50-260?
A dealer of vessel and outboard motor inventory files this statement under Tax Code Section 23.125 for each month in which the dealer sells vessels or outboard motors from inventory. A dealer with more than one business location files a separate statement for each location.
Fleet transactions, dealer sales and subsequent sales are still reported on the form, in Steps 3 and 4, but carry no unit property tax. The form defines a dealer sale as a sale to another dealer: a person who holds a dealer's and manufacturer's number issued by the Texas Parks and Wildlife Department (TPWD) or who is authorized by law or interstate reciprocity agreement to buy vessels or outboard motors in Texas without paying sales tax. The form states that this term does not include the manufacturer of vessels or outboard motors.
The person who completes the statement enters his or her name and title in Step 1 and signs in Step 5. The form does not describe who may sign on a dealer's behalf.
When to file 50-260
A statement and prepayment of taxes must be filed on or before the 10th day of each month, except as provided by Tax Code Section 23.125(g). Each statement covers the vessels and outboard motors sold in the preceding month, so the reporting month's sales are listed in Step 3.
The form states penalties for late or missing statements. A dealer who fails to file or timely file commits a misdemeanor, with each day of non-compliance a separate violation. The dealer must also forfeit a penalty for each month or part of a month in which a statement is not filed or timely filed after it is due, and a tax lien attaches to the dealer's business personal property to secure that penalty. An owner who does not remit unit property tax due pays a penalty, with an additional penalty if the amount is not paid within 10 days after the due date. Unit property taxes paid on or before January 31 of the year following the date they are due are not delinquent. Ask the Tax Assessor-Collector for the penalty amounts.
Documents you need
- The appraisal district account number in Step 2, or, if you do not have one available, a tax bill or a copy of appraisal or tax office correspondence about your account.
- Your TPWD dealer's and manufacturer's numbers, issued by the Texas Parks and Wildlife Department, entered in Step 2.
- Supporting documentation for the reported sales, filed with the statement and retained by the dealer.
- Separate documentation in place of the Step 3 table, only if you choose not to fill it in; it must be separately identified to match the table's column headers.
- Additional pages, only when the sales do not fit in the Step 3 table.
- The payment of the total unit property tax for the month, submitted with the statement to the collector.
How to fill out 50-260
Enter dealer information
In Step 1, write the Name of Dealer, Mailing Address, City, State, ZIP Code and Phone (area code and number). Then enter the Name of Person Completing Statement and Title.
Identify the business location
In Step 2, enter the Name of Business and its Address, City, State, ZIP Code. File a separate statement for each business location.
Give account and TPWD numbers
Enter the appraisal district Account Number if available; otherwise attach a tax bill or copy of appraisal or tax office correspondence. Add your TPWD Dealer's and Manufacturer's Numbers.
Describe each sale in Step 3
For each vessel and outboard motor sold in the reporting month, enter the Purchaser's Name, Date of Sale, Make, Model Year and Identification Number. Continue on additional pages if needed, or attach separate documentation matching the column headers.
Code the type of sale
In the Type of Sale column, place VM, FL, DL or SS for each sale. VM is vessel and outboard motor inventory, FL a fleet transaction of five or more units to the same business entity in one calendar year, DL a dealer sale and SS a subsequent sale.
Enter the sales price
Enter the price as set forth on the applicable Texas certificate of number or title application (or seller, donor or trader's affidavit), or the price that would appear if those forms were used.
Figure the unit property tax
Multiply the sales price by the Unit Property Tax Factor for VM sales. For FL, DL and SS sales enter -0-; if no tax is assigned, state the reason.
Total the tax and enter the factor
Enter the Total Unit Property Tax this month, which is the amount submitted with the statement to the collector. Write the Unit Property Tax Factor, which you get from the county tax assessor-collector or appraisal district.
Complete the Step 4 breakdown
Enter the number of units sold and the sales amounts for the month in four columns: Vessel and Outboard Motor Inventory, Fleet Transactions, Dealer Sales and Subsequent Sales.
Sign the statement
Sign in Step 5. The form warns that a false statement can be a Class A misdemeanor or a state jail felony under Penal Code Section 37.10.
Review and download the completed PDF
Check the totals, the sale codes and the account numbers. Download or print the completed PDF from FillingPDF, then file it with the payment and supporting documentation as described under How to submit.
How to submit 50-260
File Form 50-260 and all supporting documentation with two offices in the county where the business is located: the appraisal district and the tax assessor-collector. Do not file it with the Texas Comptroller of Public Accounts.
- Tax Assessor-Collector: Parker County Tax Assessor-Collector, 1112 Santa Fe Dr, Weatherford, TX 76086, phone 817-598-6139. The unit property tax payment for the month goes to the collector with the statement. The county page lists the Weatherford office as open Monday through Friday, 8:00 am to 5:00 pm.
- Appraisal district: Parker County Appraisal District, 1108 Santa Fe Dr, Weatherford, TX 76086, phone 817-596-0077.
The form names no mailing, online or other channel, so call either office to confirm how it accepts the statement and payment. The Tax Assessor-Collector also lists Special Inventory Tax Collection among its services. FillingPDF lets you fill out and download the PDF; submission follows the channels above.
Common mistakes to avoid
- Filing the statement with the Texas Comptroller of Public Accounts; the form says to file with the appraisal district and tax assessor-collector in the county where the business is located.
- Combining several business locations on one statement; the form requires a separate statement for each location.
- Filing after the 10th day of the month, which exposes the dealer to the late-filing penalties printed on the form.
- Sending the statement without the payment of the total unit property tax for the month.
- Charging unit property tax on fleet (FL), dealer (DL) or subsequent (SS) sales; only VM sales carry tax, and the others are -0-.
- Using an old unit property tax factor instead of getting the current one from the county tax assessor-collector or appraisal district.
- Leaving out the reason when no unit property tax is assigned to a sale.
- Attaching separate sales documentation whose columns do not match the Step 3 headers.
- Leaving Step 5 unsigned, or making a false statement, which can be a Class A misdemeanor or a state jail felony under Penal Code Section 37.10.
Frequently asked questions
What is Form 50-260 used for?
Form 50-260 is the monthly statement a vessel and outboard motor dealer files to report sales from inventory and the unit property tax due on them. It is filed under Tax Code Section 23.125 with a payment equal to the unit property tax for the previous month's sales.
Where do I file the Dealers Vessel and Outboard Motor Inventory Tax Statement in Parker County?
File it with both the Parker County Tax Assessor-Collector (1112 Santa Fe Dr, Weatherford, TX 76086, 817-598-6139) and the Parker County Appraisal District (1108 Santa Fe Dr, Weatherford, TX 76086, 817-596-0077). Do not file it with the Texas Comptroller of Public Accounts.
When is Form 50-260 due each month?
On or before the 10th day of each month, together with prepayment of the taxes, except as provided by Tax Code Section 23.125(g). The statement covers the vessels and outboard motors sold in the preceding month.
Do I file one statement for all my locations?
No. The form says to file a separate statement for each business location and to retain documentation. Each statement lists that location's sales and its own total unit property tax for the month.
How do I calculate the unit property tax on Form 50-260?
Multiply the sales price by the unit property tax factor for each VM sale. The factor is the prior year aggregate tax rate divided by 12; get the current factor from the county tax assessor-collector or appraisal district. Fleet, dealer and subsequent sales are -0-.
What happens if I file Form 50-260 late?
The form says a late or missing statement is a misdemeanor, with each day a separate violation, and the dealer forfeits a penalty for each month or part of a month it is late. A tax lien attaches to business personal property to secure that penalty. Ask the Tax Assessor-Collector for amounts.
Is Form 50-260 part of Parker County property tax?
Yes, in the sense that it reports unit property tax on dealer inventory, collected by the Parker County Tax Assessor-Collector. That office does not appraise property; appraisals come from the Parker County Appraisal District (817-596-0077, parkercad.org).
Can I fill out Form 50-260 online on FillingPDF?
Yes. You can fill out the PDF online on FillingPDF and download or print it. FillingPDF is an independent service and does not file the statement or accept payment; you file it with the county offices yourself.
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