Form 50-144 - Business Personal Property Rendition Of Taxable Property Page 5
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Texas Comptroller of Public Accounts
50-144
DEFINITIONS AND RELEVANT TAX CODE SECTIONS
Tax Code Section 22.26 states:
(a) Each rendition statement or property report required or authorized by this chapter must be signed by an indi-
vidual who is required to file the statement or report.
(b) When a corporation is required to file a statement or report, an officer of the corporation or an employee or
agent who has been designated in writing by the board of directors or by an authorized officer to sign in behalf
of the corporation must sign the statement or report.
Tax Code Section 22.01(c-1) states:
In this section:
(1) “Secured party” has the meaning assigned by Section 9.102, Business & Commerce Code.
(2) “Security interest” has the meaning assigned by Section 1.201, Business & Commerce Code.
Tax Code Section 22.01(c-2) states:
With the consent of the property owner, a secured party may render for taxation any property of the property owner
in which the secured party has a security interest on Jan. 1, although the secured party is not required to render the
property by Subsection (a) or (b). This subsection applies only to property that has a historical cost when new of
more than $50,000.
Tax Code Section 22.01(d-1) states:
A secured party is not liable for inaccurate information included on the rendition statement if the property owner sup-
plied the information or for failure to timely file the rendition statement if the property owner failed to promptly cooper-
ate with the secured party. A secured party may rely on information provided by the property owner with respect to:
(1) the accuracy of information in the rendition statement;
(2) the appraisal district in which the rendition statement must be filed; and
(3) compliance with any provisions of this chapter that require the property owner to supply additional information.
Address Where Taxable: In some instances, personal property that
Secured Party: A person in whose favor a security interest is created
is only temporarily at its current address may be taxable at another
or provided for under a security agreement, whether or not any obliga-
location (taxable situs). If you know that this is the case, please list the
tion to be secured is outstanding; a person that holds an agricultural
address where taxable.
lien; a consignor; a person to which accounts, chattel paper, payment
intangibles or promissory notes have been sold; a trustee, indenture
Consigned Goods: Personal property owned by another person that
trustee, agent, collateral agent or other representative in whose favor
you are selling by arrangement with that person. If you have consigned
a security interest or agricultural lien is created or provided for; or a
goods, report the name and address of the owner in the appropriate
person that holds a security interest arising under Business and Com-
blank.
merce Code Sections 2.401, 2.505, 2.711(c), 2A.508(e), 4.210 or 5.118.
Estimate of Quantity: For each type or category listed, the number
Security Interest: An interest in personal property or fixtures which
of items or other relevant measure of quantity (e.g., gallons, bushels,
secured payment or performance of an obligation. Security interest
tons, pounds, board feet).
includes any interest of a consignor and a buyer of accounts, chattel
paper, a payment intangible or a promissory note in a transaction that
Fiduciary: A person or institution who manages property for another
and who must exercise a standard of care in such management activ-
is subject to Business and Commerce Code Chapter 9. Security inter-
ity imposed by law or contract.
est does not include the special property interest of a buyer of goods
on identification of those goods to a contract for sale under Section
Good Faith Estimate of Market Value: Your best estimate of what
2.401, but a buyer may also acquire a security interest by complying
the property would have sold for in U.S. dollars on Jan. 1 of the current
with Chapter 9. Except as otherwise provided in Section 2.505, the
tax year if it had been on the market for a reasonable length of time
right of a seller or lessor of goods under Chapter 2 or 2A to retain
and neither you nor the purchaser was forced to buy or sell. For inven-
or acquire possession of the goods is not a security interest, but a
tory, it is the price for which the property would have sold as a unit to
seller or lessor may also acquire a security interest by complying with
a purchaser who would continue the business.
Chapter 9. The retention or reservation of title by a seller of goods not-
Historical Cost When New: What you paid for the property when it
withstanding shipment or delivery to the buyer under Section 2.401 is
was new or, if you bought the property used, what the original buyer
limited in effect to a reservation of a security interest. Whether a trans-
paid when it was new. If you bought the property used and do not
action in the form of a lease creates a security interest is determined
pursuant to Business and Commerce Code Section 1.203.
know what the original buyer paid, state what you paid with a note that
you purchased it used.
Type/Category: Functionally similar personal property groups. Exam-
ples are: furniture, fixtures, machinery, equipment, vehicles and sup-
Inventory: Personal property that is held for sale to the public by a
plies. Narrower groupings such as personal computers, milling equip-
commercial enterprise.
ment, freezer cases and forklifts should be used, if possible. A person
Personal Property: Every kind of property that is not real property;
is not required to render for taxation personal property appraised
generally, property that is movable without damage to itself or the
under Tax Code Section 23.24.
associated real property.
Year Acquired: The year that you purchased the property.
Property Address: The physical address of the personal property on
Jan. 1 of the current tax year. Normally, the property is taxable by the
taxing unit where the property is located.
comptroller.texas.gov/taxes/property-tax
Page 5
For more information, visit our website:
50-144 • 11-16/19
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