Bill > SB1498

This bill amends the Texas Tax Code to address the collection, remittance, and administration of the tax on gross rental receipts for motor vehicles rented through a "marketplace rental provider." Key provisions of the bill include: 1. Defining a "marketplace rental provider" as a person who operates an online platform or other marketplace to facilitate the rental of motor vehicles by owners to other individuals. 2. Establishing different tax rates for motor vehicle rentals through a marketplace rental provider (6.25% for rentals over 30 days, 10% for rentals of 30 days or less) compared to rentals not through a marketplace provider (10% for rentals of 30 days or less, 6.25% for rentals over 30 days). 3. Requiring marketplace rental providers to collect, report, and pay the gross rental receipts tax to the state comptroller, with the option for vehicle owners to elect to report and pay the tax themselves. 4. Imposing a $50 penalty for failure to timely file required reports, applicable to both vehicle owners and marketplace rental providers. 5. Establishing record-keeping requirements for vehicle owners and marketplace rental providers related to gross rental receipts and taxes paid. The bill applies only to rental agreements entered into on or after the effective date of October 1, 2023.