Are penalties assessed for filing monthly statements after the due date?

Yes. Penalties are assessed based on Texas Property Tax Code 23.122 (o) (n).

Late Payments

23.122 (o) An owner who fails to remit unit property taxes due as required by this section shall pay a penalty of 5% of the amount due. If the amount is not paid within 10 days after the due date, the owner shall pay an additional penalty of 5% of the amount due.

Late Statements

23.122 (n) In addition to other penalties provided by law, a dealer who fails to file or fails to timely file a statement as required by this section shall forfeit a penalty. A tax lien attaches to the dealer's business personal property to secure payment of the penalty. A penalty forfeited under this subsection is $500 for each month or part of a month in which a statement is not filed or timely filed after it is due.

Please note: The Williamson County Tax Collector, the collector's designated agent, or the county or district attorney shall enforce the terms of subsection 23.122 (o)(n).

Show All Answers

1. When is my Annual Declaration due?
2. How is my dealership(s) value determined?
3. Will I be notified of my current year’s value? What if I do not agree with the current year’s value?
4. Who do I need to notify if my mailing address is different from the dealer physical location?
5. I have been issued a dealer number but have not started the business. Am I required to file the Monthly Statements / Declaration?
6. Do I need to notify someone if my dealership is closing or moving?
7. Why is it necessary to inform county and agencies of moved businesses or closed businesses?
8. If I move during the year, will my tax factor change?
9. How is my dealership(s) VIT rate calculated?
10. When is each monthly statement and/or payment due?
11. Why do I have to file monthly forms each month if I don’t have any sales or own inventory?
12. Are penalties assessed for filing monthly statements after the due date?
13. If I sell an inventory item out of county or out of state, do I still need to pay the Vehicle Inventory Tax (VIT)?
14. If all sales are dealer to dealer, do I have to file? Is there an exception?
15. Can I opt-out of reporting monthly with an active license?
16. Can my dealership send a computer listing of sales?
17. Will my dealership’s VIT tax rate change from year to year? Why?
18. I paid into escrow on each sale during the year. Why would I owe more taxes after the 12 months of reporting/paying?
19. Do I need to pay Vehicle Inventory Tax (VIT) on dealer-to-dealer, fleet, or subsequent sales?
20. Do I need to collect Vehicle Inventory Tax (VIT) if my business begins after January 1? When should I start collecting/paying the VIT?