2023 Texas Statutes › Tax Code › Title 2 - State Taxation › Subtitle E - Sales, Excise, and Use Taxes › Chapter 160 - Taxes on Sales and Use of Boats and Boat Motors › Subchapter C. Collection and Enforcement of Taxes › Section 160.046. Records

Sec. 160.046.  RECORDS.  (a)  The seller of a taxable boat or motor shall keep at the seller's principal office for at least four years from the date of the sale a complete record of each sale of a taxable boat or motor.  The record must include a copy of the invoice of each item sold.  The invoice copy must show the full price of the taxable boat or motor and the itemized price of all its accessories.  All sales and supporting records of a seller are open to inspection and audit by the comptroller.
(b)  A seller's business records must show the total receipts from all sources of income and expense, including transactions involving taxable boats and motors.
(c)  For a retail sale for which the seller receives full payment at the time of sale, the seller shall keep, at the seller's principal office for at least four years from the date of the sale, documentation of complete payment in the form of:
(1)  a copy of the payment instrument or a receipt for cash received;  and
(2)  a copy of the receipt for title application, registration, and boat or boat motor tax issued by the county tax assessor-collector or the department or a written statement by the purchaser that:
(A)  is signed and dated;
(B)  indicates the date on which the seller provided to the purchaser each of the documents necessary to apply for the title, register the taxable boat or boat motor, and pay the boat or boat motor tax;  and
(C)  includes a statement that the seller advised the purchaser that the purchaser must pay a tax to the county tax assessor-collector or the department.
(d)  For a seller-financed sale, the seller shall keep at the seller's principal office for at least four years from the date on which the seller receives the final payment for the taxable boat or motor:
(1)  the lienholder's copy of the receipt for title application, registration, and boat or boat motor tax issued by a county tax assessor-collector or the department;  and
(2)  a ledger or other document containing a complete record of the payment history for that boat or boat motor, including:
(A)  the name and address of the purchaser;
(B)  the total consideration;
(C)  the amount of the down payment received at the time the boat or boat motor is sold;
(D)  the date and amount of each subsequent payment;
(E)  the date of sale;  and
(F)  the date of any repossession.
(e)  For a sale for resale, the seller shall keep, at the seller's principal office for at least four years from the date of the sale, the purchaser's written statement of resale on a form prescribed by the comptroller.
(f)  Any person, other than the seller's employee, acting for the seller of a taxable boat or boat motor has the same record-keeping responsibilities as the seller.
(g)  A person required to keep records under this section shall also keep the records as required by Section 111.0041.
Added by Acts 1991, 72nd Leg., 1st C.S., ch. 5, Sec. 7.01, eff. Oct. 1, 1991.  Amended by Acts 1993, 73rd Leg., ch. 587, Sec. 31, eff. Oct. 1, 1993.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 4.10, eff. October 1, 2011.