Texas Tax Code

§ 11.253 — TANGIBLE PERSONAL PROPERTY IN TRANSIT

TX § 11.253Title 1. PROPERTY TAX CODE · Part C. TAXABLE PROPERTY AND EXEMPTIONS · Ch. 11. TAXABLE PROPERTY AND EXEMPTIONS · Art. B. EXEMPTIONS

Statute text

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(a)In this section:

(1)"Dealer's motor vehicle inventory," "dealer's vessel and outboard motor inventory," "dealer's heavy equipment inventory," and "retail manufactured housing inventory" have the meanings assigned by Subchapter B, Chapter 23.

(2)"Goods-in-transit" means tangible personal property that:

(A)is acquired in or imported into this state to be forwarded to another location in this state or outside this state;

(B)is stored under a contract of bailment by a public warehouse operator at one or more public warehouse facilities in this state that are not in any way owned or controlled by the owner of the personal property for the account of the person who acquired or imported the property;

(C)is transported to another location in this state or outside this state not later than 175 days after the date the person acquired the property in or imported the property into this state; and

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Legislative history

Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 48.01, eff. January 1, 2012. Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 48.02, eff. October 1, 2011. Acts 2021, 87th Leg., R.S., Ch. 644 (H.B. 988), Sec. 7, eff. January 1, 2022.