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Tarrant Appraisal District 2500 Handley-Ederville Road Fort Worth, Texas 76118

Re: Freeport or Goods-In-Transit Exemption Application and Associated Forms

Dear Applicant:

The Texas Property Tax Code requires that Freeport and Goods-In-Transit exemption applicants file each year the entitlement is claimed. Enclosed are your Tarrant Appraisal District (TAD) Freeport or Goods-In-Transit exemption application and associated forms for this tax year.

Each year billions of dollars of property are exempted from taxation in Tarrant County as a result of Freeport and Goods-In-Transit properties. TAD takes seriously its responsibility to fairly administer these valuable exemptions, and as such, requests that certain original records of the owner of the inventory (unless noted otherwise below) be submitted along with and in addition to your completed application form. These are:

•Month-end Balance Sheets for January through December of the preceding calendar year reporting inventory on a FIFO basis (if consolidated, include the local equivalent specific to this location)

•Income Statement for the preceding calendar year ending December 31st (if consolidated, include the local equivalent specific to this location)

•Detailed and summarized Sales Reports reflecting the Cost of Goods Sold specific to this location for the preceding calendar year presented and subtotaled by the sales destination state(s) and/or nation(s)

•The enclosed “Freeport or Goods-In-Transit Exemption Worksheet” completed with information specific to this location

•The enclosed “Freeport or Goods-In-Transit Exemption Documentation Affidavit of the Property Owner”

•Written statement regarding your inventory and/or business operations which would explain a particular aspect, omission, modification, and/or addition to the information above

If this information is not provided in full at the time of application, the exemption may be modified or denied. Incomplete application forms will not be processed. Application forms that contain data that is not related to the current appraisal year will be considered incomplete.

The completed exemption application must be filed with the Tarrant Appraisal District before May 1st. For the Freeport Exemption only, you may file a late application not later than June 15th. See Texas

Property Tax Code Section 11.4391 for penalties that may result.

If you have any questions or concerns, please contact the Business Personal Property department at (817) 595-6082 to speak with an appraiser regarding your account.

Sincerely,

Business Personal Property, Minerals and Utilities Department

Enc:	Freeport or Goods-In-Transit Exemption Application, Freeport or Goods-In-Transit Exemption Worksheet, Freeport / Goods-In-
	Transit Exemption Documentation Affidavit of the Property Owner, A Comparison of the Freeport and Goods-In-Transit Exemptions

INSTRUCTIONS: Th

pti

plies o it ms in your

n ory on January 1 (or September 1 of last year, if applicable) that (1)

re or will be forward d out of Texas

wi hin 175 days of the date y

u acquire

hem or br ng

hem into Texas and (2) are in Texas for ssembling, stor ng, manu act ing,

pair, mainte ance, processing or

fabri ati g purposes. The exem

not

oil, natu al

liq id g

ses th

are imm

diate derivatives

efining

il or n

tural gas. The amount of the

port exempti

for

his y

ar is

mally bas

per

nta

of y ur inve

tory made up by such good

last year. This applic

ti n cove

roperty you owned

on January 1 of this year (or S ember

1 of

ceding year if you r

ceive S pte

1 inventory

pprai

l).

You must file the com

l ted form between January

nd no lat

r th

ril 30 of

year. You may f le

late

lication not later th

n Ju

15th. If you

file

late

p lication and you

applicati

is approved, you

nalty

10%

the

x savings re ul ing fr

the fr

rt xempti

ure

h any additional docum

quested. Y

u ust apply for the

tion in each

u claim

nt tlement.

05/2018

__________________________	__________________________
Business Name	TAD Account Number

Tarrant Appraisal District

Freeport Exemption Worksheet

1.Inventory Turn Calculation:

(A)Enter the total cost of goods sold and / or forwarded

from this location during the previous calendar year:

= $_________________(1.A)

(B)Enter the month-ending inventory cost for each month of the previous calendar year:

JAN $______________ APR $______________ JUL $ _______________ OCT $_______________

FEB $______________ MAY $______________ AUG$_______________ NOV $_______________

MAR $______________ JUN $______________ SEP $_______________ DEC $_______________

= $_________________(1.C)

(D)Average annual inventory calculation:

$_________________ (1.C) divided by _12_ (or # of months at [1.B] above) = $________________ (1.D)

(E)Inventory turns:

$_________________ (1.A) divided by $ _________________ (1.D) = _________________ turns (1.E)

_____365____ days divided by ___________________ turns (1.E) = _________________ days (1)

IF ITEM (1) IS GREATER THAN 175, THE EXEMPTION CANNOT BE GRANTED

2.Enter the cost of goods sold and / or forwarded from this location to a destination outside of Texas during the previous calendar year within 175 days of the date they were acquired within or brought into Texas, less the cost of any goods, raw materials, or supplies incorporated into them that were not eligible for

	the Freeport exemption or were in Texas more than 175 days:	= $_________________ (2)
3.	Exemption percentage calculation:
	$________________ (2) divided by $______________(1.A)	= ________________%(3)
4.	January 1st inventory cost (or September 1st of last year, if applicable):	= $_________________ (4)
5. EXEMPT INVENTORY CALCULATION:
	$________________ (4) multiplied by _____________% (3)	= $_________________ (5)
		EXEMPT INVENTORY

________________________	_________________________
Business Name	TAD Account Number

Tarrant Appraisal District

Freeport / Goods-In-Transit Exemption Documentation Affidavit

of the Property Owner

I certify pursuant to the provisions of Section 37.01 and section 37.10 of the Texas Penal Code that the following document(s), consisting of _____ page(s) and

described as ______________________________________________, is / are a

complete and accurate reflection of the official books and records of this company as of the _____ day of __________________, ___________.

__________________	_______________________________
Date	Signature
	_______________________________
	Type or Print Name
	_______________________________
	Title
	_______________________________
	Company Name

SUBSCRIBED AND SWORN before me on this ____ day of __________________, _______.

_______________________________

Notary Public

_______________________________

Type or Print Name

My commission expires ____________

Date

Tarrant Appraisal District

2500 Handley-Ederville Road

Fort Worth, Texas 76118

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Question	Answer
Form Name	Freeport Exemption Worksheet Form
Form Length	5 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 15 sec
Other names	worksheet exported exemptions, goods appraisal tarrant, appraisal transit tarrant, tarrant associated forms

Freeport Exemption Worksheet Form – Fill Out and Use This PDF

Freeport Exemption Worksheet Form PDF Details

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