Form 50-245 - Application For Exemption For Cotton Stored In A Warehouse
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250-245 (Rev. 10-99/8)
[11.437 Rule 9.415]
YEAR
APPLICATION FOR EXEMPTION FOR COTTON STORED IN A WAREHOUSE
Appraisal district name
Phone (area code and number)
Address
INSTRUCTIONS: This exemption applies to cotton stored in your warehouse on January 1 (or September 1 of last year, if applicable) that will be forwarded out of
Texas within 175 days of the date you acquire it or bring it into Texas. You may apply for this exemption on behalf of all owners of the cotton stored in your warehouse
if your warehouse is primarily used to store cotton. You must file the completed form between January 1 and April 30 of this year. Be sure to attach any additional
documents requested. You only need to apply once for this exemption unless the warehouse changes ownership or the cotton’s current qualification for the
exemption changes. However, the chief appraiser may require you to file a new application to confirm the cotton’s current qualification for the exemption. If so,
the chief appraiser must deliver you a written notice that a new application is required, accompanied by an application form.
Owner’s name
Step 1:
Owner’s name
and address
Current mailing address (number and street)
City, state, ZIP Code
Phone (area code and number)
Name of person preparing this application
Driver’s License, Personal I.D. Certificate, or
Title
Social Security Number:
Give appraisal roll account number if available or attach tax bill or copy of
Appraisal district account number (Optional):
Step 2:
appraisal or tax office correspondence concerning this account. If unavailable,
Describe the
give the street address at which the property is located.
warehouse
Location of warehouse (street address, city, state, ZIP Code)
If the warehouse is used to store items other than cotton, state the other uses and give the percentage of the warehouse that is used for each other
use. (Use additional sheets if necessary)
Non-cotton storage use
Percentage devoted to use
Step 3:
Have you applied for appraisal of your inventory on September 1? .......................................................
Yes
No
Answer these
questions
Was all of this cotton transported out of the state this year? ..................................................................
Yes
No
about your
property
If no, what portion will not be transported out of the state this year
within 175 days of the date you acquired it or brought it into Texas? .....................................................
Yes
No
Was all of the cotton transported out of this state throughout last year? ................................................
If “NO,” give the months during which portions of the cotton were transported out of the state last year.
1. Give the total cost of cotton sold for the entire year ending December 31, _______*
$
* Year preceding year of application
2. Give the total cost of cotton sold that was shipped out of Texas within 175 days of the
date you acquired it or brought it into Texas last year, less the cost of any goods, raw
materials or supplies incorporated into it that were not eligible for the freeport exemption
$
or were in Texas more than 175 days.
3. On what types of records do you base the amounts given above? (Check as many as apply.)
Audited financial statements
Sales records
Internal reports
Bills of lading
Texas franchise tax reports
Other (describe) _____________________________________
4. Percentage of last year’s cotton value represented by freeport goods (divide 2 by 1).
%
5. Will the percentage of cotton transported out of Texas this year be significantly
Yes
No
different than the percentage transported out last year?
6. If “YES,” why? _______________________________________________________________________________________
______________________________________________________________________________________________________
______________________________________________________________________________________________________
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