Form 50-265, the Dealers Heavy Equipment Inventory Declaration, is the form heavy equipment dealers use to declare their inventory under Tax Code Section 23.1241. It is one of the Parker County property tax forms: in Parker County, the original goes to the Parker County Appraisal District and a copy goes to the county Tax Assessor-Collector. On this page you can fill out the form online on FillingPDF and download or print the completed PDF; the form itself was developed by the Texas Comptroller of Public Accounts, Property Tax Assistance Division.
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What is 50-265?
Form 50-265, Dealers Heavy Equipment Inventory Declaration, is the form heavy equipment dealers use to declare their heavy equipment inventory under Tax Code Section 23.1241, reporting the prior year's units and transaction amounts and the resulting market value for the current tax year.
The form is marked CONFIDENTIAL and was developed by the Texas Comptroller of Public Accounts, Property Tax Assistance Division. The Parker County copy names the Parker County Appraisal District, 1108 Santa Fe Dr, Weatherford, TX 76086, as the office that receives the original, and the Tax Assessor-Collector, 1112 Santa Fe Dr, Weatherford, TX 76086, as the office that receives a copy.
The declaration has six sections: dealer information, authorized representative, business information, units sold, leased or rented with transaction amounts, market value of the inventory, and a signed certification. Section 4 separates four categories: net heavy equipment inventory, fleet transactions, dealer sales and subsequent sales. The market value on Jan. 1 is total annual sales, less fleet transactions, dealer sales and subsequent sales, for the previous 12-month period, divided by 12.
Heavy equipment means self-propelled, self-powered or pull-type equipment, including farm equipment or a diesel engine, that weighs at least 1,500 pounds and is intended for agricultural, construction, industrial, maritime, mining or forestry uses. It does not include a motor vehicle required to be titled under Transportation Code Chapter 501 or registered under Chapter 502.
The Parker County Tax Assessor-Collector's page says that office does not appraise property; appraisals come from the Parker County Appraisal District.
Who needs to file 50-265?
Heavy equipment dealers whose business is located in Parker County use Form 50-265 to declare their heavy equipment inventory under Tax Code Section 23.1241.
- Individual dealers filing on their own behalf skip Section 2 and go to Section 3.
- All other applicants must complete Section 2 and state the basis of their authority: officer of the company, general partner of the company, attorney for the company, agent for tax matters appointed under Tax Code Section 1.111 (with a completed and signed Form 50-162), or other, with an explanation.
- Dealers not in business on Jan. 1 also file, and they report sales, leases and rentals only for the months they were in business.
Do not file this document with the Texas Comptroller of Public Accounts. File it with the appraisal district office and the county tax assessor-collector's office in the county where the business is located. The person who signs Section 6 swears to be the dealer or the dealer's authorized representative.
When to file 50-265
Except as provided by Tax Code Section 23.1242(k), you must file the declaration no later than Feb. 1 each year. If the dealer is not in business on Jan. 1, the declaration is due no later than 30 days after the business starts; enter the starting date of business in Section 3.
A dealer who fails to file, or to file on time, a required declaration must forfeit a penalty for each month or part of a month in which the declaration is not filed or timely filed after it is due, in addition to other penalties provided by law. A tax lien attaches to the dealer's business personal property to secure payment of the penalty. Ask the appraisal district for the current penalty amount.
Dealers must also keep complete and accurate records of the disposition of each item of heavy equipment sold, leased or rented for at least four years from the item's disposition date (Tax Code Section 23.1242(f-1)).
Documents you need
- A list with the name and business address of each location at which you conduct business, attached to Section 3.
- A copy of your tax bill, or a copy of appraisal district or tax office correspondence about the account, only if your appraisal district account number is not available.
- A completed and signed Form 50-162, only if your authorized representative is an agent for tax matters appointed under Tax Code Section 1.111.
- All other supporting documentation, filed with the declaration at the appraisal district office and the county tax assessor-collector's office.
How to fill out 50-265
Enter account number and tax year
At the top, write your Appraisal District Account Number and the Tax Year. If you do not have the account number, plan to attach a copy of your tax bill or related correspondence.
Complete Section 1 dealer information
Enter the Name of Dealer, mailing address, city, state and ZIP code, phone number with area code, and email address.
Complete Section 2 if required
Individual dealers filing for themselves skip to Section 3. Everyone else checks the basis of authority (officer, general partner, attorney, agent for tax matters with Form 50-162, or other with an explanation) and enters the representative's name, title, address, phone and email.
Describe the business in Section 3
Enter the name of the business, the business address, and the starting date of business only if you were not in business on Jan. 1 of this year. Attach a list of the name and business address of each location.
Report units in Section 4, Part 1
For the previous 12-month period matching the prior tax year, enter the number of units for Net Heavy Equipment Inventory, Fleet Transactions, Dealer Sales and Subsequent Sales. If you were not in business on Jan. 1 of the preceding year, report only the months you were in business.
Report amounts in Section 4, Part 2
Enter the sales, lease and rental transaction amounts for the same period in the same four columns: Net Heavy Equipment Inventory, Fleet Transactions, Dealer Sales and Subsequent Sales.
Check the category definitions
Use the Important Information page: fleet transactions are sales of five or more items to the same person within one calendar year, dealer sales are sales to dealers, and subsequent sales are dealer-financed sales as defined there.
Compute market value in Section 5
Enter the net heavy equipment inventory sales, leases and rentals for the prior year, divide by 12, and enter the result as the Market Value for Current Tax Year. If you were not in business on Jan. 1 of the preceding year, report the months in business and total sales; the chief appraiser will estimate the market value.
Certify, sign and download the PDF
In Section 6, print the name of the dealer or authorized representative, then sign and date. Review every entry, then download or print the completed PDF from FillingPDF and file the original and a copy as described under How to submit.
How to submit 50-265
File Form 50-265 with two offices in the county where the business is located: the appraisal district and the county tax assessor-collector. The form does not name a mail, online or in-person method; it states only where each copy goes.
- Original to the appraisal district: Parker County Appraisal District, 1108 Santa Fe Dr, Weatherford, TX 76086. The form says to file an original completed declaration with the chief appraiser. For property tax information, the county page lists http://www.parkercad.org and 817-596-0077.
- Copy to the Tax Assessor-Collector: 1112 Santa Fe Dr, Weatherford, TX 76086. The county page lists 817-598-6139 for this office.
- Supporting documentation: file all supporting documentation with the form, as the filing instructions direct.
Do not file the form with the Texas Comptroller of Public Accounts. FillingPDF lets you fill out and download the PDF; submission follows the channels above.
Common mistakes to avoid
- Filing the declaration with the Texas Comptroller of Public Accounts; the form says not to.
- Filing only with the appraisal district and skipping the copy for the county tax assessor-collector, or the reverse.
- Missing the Feb. 1 deadline, or, for a dealer not in business on Jan. 1, filing later than 30 days after starting the business.
- Skipping Section 2 when you are not an individual dealer filing on your own behalf.
- Naming an agent for tax matters without attaching a completed and signed Form 50-162.
- Leaving out the list of business locations, or the tax bill or correspondence copy when you have no appraisal district account number.
- Counting fleet transactions, dealer sales or subsequent sales in the net heavy equipment inventory instead of reporting them in their own columns.
- Including a motor vehicle that must be titled under Transportation Code Chapter 501 or registered under Chapter 502 as heavy equipment.
- Signing Section 6 with a false statement; the form warns it could be a Class A misdemeanor or state jail felony under Penal Code Section 37.10.
Frequently asked questions
What is Form 50-265?
Form 50-265 is the Dealer's Heavy Equipment Inventory Declaration. Heavy equipment dealers use it to declare their inventory under Tax Code Section 23.1241, reporting units and transaction amounts for the prior year and the market value for the current tax year.
When is the heavy equipment dealer declaration due in Parker County?
No later than Feb. 1 each year, except as provided by Tax Code Section 23.1242(k). A dealer not in business on Jan. 1 must file no later than 30 days after starting the business. A penalty applies for each month or part of a month the filing is late.
Where do I file Form 50-265 in Parker County?
File the original with the Parker County Appraisal District, 1108 Santa Fe Dr, Weatherford, TX 76086, and a copy with the Tax Assessor-Collector, 1112 Santa Fe Dr, Weatherford, TX 76086. Do not file it with the Texas Comptroller of Public Accounts.
Do I file with the Tax Assessor-Collector or the appraisal district?
Both. The appraisal district's chief appraiser receives the original, and the county assessor-collector receives a copy. The Tax Assessor-Collector's page says that office does not appraise property; appraisals come from the Parker County Appraisal District.
Who has to complete Section 2 of Form 50-265?
Everyone except an individual dealer filing on their own behalf. An officer, general partner, attorney, agent for tax matters (with a signed Form 50-162) or another representative must state the basis of authority and give their name, title and contact details.
What counts as a fleet transaction on Form 50-265?
A fleet transaction is the sale of five or more items of heavy equipment from your inventory to the same person within one calendar year. It is reported in its own column and subtracted from sales when the net heavy equipment inventory is figured.
How is market value figured on Form 50-265?
Market value on Jan. 1 is total annual sales, less fleet transactions, dealer sales and subsequent sales, for the previous 12-month period, divided by 12. Total sales include sale prices plus lease and rental payments received in that period.
How long must I keep heavy equipment sales records?
At least four years from each item's disposition date (Tax Code Section 23.1242(f-1)). The form adds that the chief appraiser may examine your records, including sales records, to verify the information in the declaration.
Can I fill out Form 50-265 online on FillingPDF?
Yes. You can fill out the PDF online on FillingPDF and download or print it. FillingPDF is independent, is not connected to Parker County and does not file the declaration; you file it with the appraisal district and the Tax Assessor-Collector.
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