Motor Vehicle Tax Guidebook 2011 - Texas Comptroller of Public ...
Motor Vehicle Tax Guidebook 2011 - Texas Comptroller of Public ...
Motor Vehicle Tax Guidebook 2011 - Texas Comptroller of Public ...
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motor vehicle. A house trailer is built on a permanent<br />
chassis with axle(s), wheels and a towing device. The<br />
term includes a travel trailer and bunkhouse, but does<br />
not include a park model, manufactured housing or<br />
mobile <strong>of</strong>fices.<br />
Independent Dealer – Usually a used car dealer.<br />
Insurance Adjuster – A person licensed under<br />
Insurance Code, Chapter 4101, or licensed or<br />
operating under similar regulatory requirements<br />
<strong>of</strong> another state.<br />
International Registration Plan (IRP) – An<br />
international method <strong>of</strong> registering fleets <strong>of</strong> vehicles<br />
that travel in two or more states or provinces. IRP<br />
motor carriers register fleets <strong>of</strong> vehicles in their<br />
home state, for which the home state apportions the<br />
registration fees to the other traveled states <strong>of</strong> the<br />
carriers. See also Apportioned Plates and Cab Card in<br />
this Glossary.<br />
Interstate <strong>Motor</strong> <strong>Vehicle</strong> – Any motor vehicle that<br />
is operated in <strong>Texas</strong> and in at least one other state or<br />
country and for which the registration fees could be<br />
apportioned if the motor vehicle were registered in a<br />
state or province <strong>of</strong> a country that is a member <strong>of</strong> the<br />
International Registration Plan (IRP).<br />
IRC – Internal Revenue Code.<br />
Lease – An agreement to give possession and<br />
exclusive use <strong>of</strong> a motor vehicle to another person for<br />
a single contract period <strong>of</strong> more than 180 days for<br />
consideration.<br />
Lease/Purchase – A conditional sales agreement under<br />
which the lessee must or may take title to the motor<br />
vehicle at the end <strong>of</strong> the lease agreement.<br />
Legal Entity – See Business Entity or Legal Entity in<br />
this Glossary.<br />
Lessee – A person who leases or lease/purchases<br />
(conditional sale) a motor vehicle from another.<br />
Lessor – A person who acquires title to a new motor<br />
vehicle for the purpose <strong>of</strong> leasing the motor vehicle to<br />
another person for a contract period <strong>of</strong> more than 180<br />
days for consideration. A lessor must have a license<br />
from TxDMV, regularly and actively engage in leasing<br />
motor vehicles as a primary business function and<br />
separately lease at least five different motor vehicles<br />
during any 12-month period.<br />
<strong>Motor</strong> <strong>Vehicle</strong> <strong>Tax</strong> <strong>Guidebook</strong><br />
Limited Liability Company (LLC) – see Corporation<br />
in this Glossary.<br />
Limited Liability Partnership (LLP) – see Partnership<br />
in this Glossary.<br />
Limited Partnership (LP) – see Partnership in this<br />
Glossary.<br />
Limited Sales and Use <strong>Tax</strong>es – The taxes imposed<br />
under Sections 151.051 and 151.101, <strong>Texas</strong> <strong>Tax</strong> Code.<br />
The tax imposed on most tangible personal property<br />
and certain services.<br />
Living Trust – A legal arrangement whereby a living<br />
person’s property is held.<br />
Manufacturer – A person regularly engaged in the<br />
business <strong>of</strong> manufacturing or assembling new motor<br />
vehicles.<br />
Manufactured Housing or Home – A structure<br />
constructed on or after June 15, 1976, according to<br />
the rules <strong>of</strong> the U. S. Department <strong>of</strong> Housing and<br />
Urban Development, that is built on a permanent<br />
chassis; designed for use as a dwelling with or without<br />
a permanent foundation when the structure is<br />
connected to the required utilities; transportable in one<br />
or more sections; and at least eight body feet in width<br />
or at least 40 body feet in length in the traveling mode,<br />
or at least 320 square feet in area when erected on site.<br />
MCO – Manufacturer’s Certificate <strong>of</strong> Origin. A<br />
document generated by the original manufacturer<br />
<strong>of</strong> a motor vehicle showing the date manufactured,<br />
the serial number assigned to the motor vehicle and<br />
other pertinent motor vehicle information. The MCO<br />
is surrendered to the county TAC when application<br />
for title is made. The MCO is also referred to as a<br />
Manufacturer’s Statement <strong>of</strong> Origin (MSO).<br />
Mechanic’s Lien – A right to keep possession <strong>of</strong><br />
property belonging to another person until a debt for<br />
service costs owed is discharged.<br />
Mobile Home – A structure constructed before June<br />
15, 1976; built on a permanent chassis; designed<br />
for use as a dwelling with or without a permanent<br />
foundation when the structure is connected to the<br />
required utilities; transportable in one or more<br />
sections; and at least eight body feet in width or at<br />
least 40 body feet in length in the traveling mode, or at<br />
least 320 square feet in area when erected on site.<br />
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