Receipt For Deposit Sale Of Motor Vehicle: Fill & Download for Free

Because they don’t understand the meaning of words, or, alternatively, don’t believe in the concept of laws enacted by properly elected governmentsLet’s start with a dictionary definition of theft.Definition of THEFTThis basic definition involves taking in violation of law. The imposition of taxes is accomplished by operation of law. So, if one doesn’t believe in the notion of laws, one might conclude that taxation is theft.In legal definitions, it’s a little more involved. From the Texas Penal Code:Sec. 31.03. THEFT. (a) A person commits an offense if he unlawfully appropriates property with intent to deprive the owner of property.(b) Appropriation of property is unlawful if:(1) it is without the owner's effective consent;(2) the property is stolen and the actor appropriates the property knowing it was stolen by another; or(3) property in the custody of any law enforcement agency was explicitly represented by any law enforcement agent to the actor as being stolen and the actor appropriates the property believing it was stolen by another.(c) For purposes of Subsection (b):(1) evidence that the actor has previously participated in recent transactions other than, but similar to, that which the prosecution is based is admissible for the purpose of showing knowledge or intent and the issues of knowledge or intent are raised by the actor's plea of not guilty;(2) the testimony of an accomplice shall be corroborated by proof that tends to connect the actor to the crime, but the actor's knowledge or intent may be established by the uncorroborated testimony of the accomplice;(3) an actor engaged in the business of buying and selling used or secondhand personal property, or lending money on the security of personal property deposited with the actor, is presumed to know upon receipt by the actor of stolen property (other than a motor vehicle subject to Chapter 501, Transportation Code) that the property has been previously stolen from another if the actor pays for or loans against the property $25 or more (or consideration of equivalent value) and the actor knowingly or recklessly:(A) fails to record the name, address, and physical description or identification number of the seller or pledgor;(B) fails to record a complete description of the property, including the serial number, if reasonably available, or other identifying characteristics; or(C) fails to obtain a signed warranty from the seller or pledgor that the seller or pledgor has the right to possess the property. It is the express intent of this provision that the presumption arises unless the actor complies with each of the numbered requirements;(4) for the purposes of Subdivision (3)(A), "identification number" means driver's license number, military identification number, identification certificate, or other official number capable of identifying an individual;(5) stolen property does not lose its character as stolen when recovered by any law enforcement agency;(6) an actor engaged in the business of obtaining abandoned or wrecked motor vehicles or parts of an abandoned or wrecked motor vehicle for resale, disposal, scrap, repair, rebuilding, demolition, or other form of salvage is presumed to know on receipt by the actor of stolen property that the property has been previously stolen from another if the actor knowingly or recklessly:(A) fails to maintain an accurate and legible inventory of each motor vehicle component part purchased by or delivered to the actor, including the date of purchase or delivery, the name, age, address, sex, and driver's license number of the seller or person making the delivery, the license plate number of the motor vehicle in which the part was delivered, a complete description of the part, and the vehicle identification number of the motor vehicle from which the part was removed, or in lieu of maintaining an inventory, fails to record the name and certificate of inventory number of the person who dismantled the motor vehicle from which the part was obtained;(B) fails on receipt of a motor vehicle to obtain a certificate of authority, sales receipt, or transfer document as required by Chapter 683, Transportation Code, or a certificate of title showing that the motor vehicle is not subject to a lien or that all recorded liens on the motor vehicle have been released; or(C) fails on receipt of a motor vehicle to immediately remove an unexpired license plate from the motor vehicle, to keep the plate in a secure and locked place, or to maintain an inventory, on forms provided by the Texas Department of Motor Vehicles, of license plates kept under this paragraph, including for each plate or set of plates the license plate number and the make, motor number, and vehicle identification number of the motor vehicle from which the plate was removed;(7) an actor who purchases or receives a used or secondhand motor vehicle is presumed to know on receipt by the actor of the motor vehicle that the motor vehicle has been previously stolen from another if the actor knowingly or recklessly:(A) fails to report to the Texas Department of Motor Vehicles the failure of the person who sold or delivered the motor vehicle to the actor to deliver to the actor a properly executed certificate of title to the motor vehicle at the time the motor vehicle was delivered; or(B) fails to file with the county tax assessor-collector of the county in which the actor received the motor vehicle, not later than the 20th day after the date the actor received the motor vehicle, the registration license receipt and certificate of title or evidence of title delivered to the actor in accordance with Subchapter D, Chapter 520, Transportation Code, at the time the motor vehicle was delivered;(8) an actor who purchases or receives from any source other than a licensed retailer or distributor of pesticides a restricted-use pesticide or a state-limited-use pesticide or a compound, mixture, or preparation containing a restricted-use or state-limited-use pesticide is presumed to know on receipt by the actor of the pesticide or compound, mixture, or preparation that the pesticide or compound, mixture, or preparation has been previously stolen from another if the actor:(A) fails to record the name, address, and physical description of the seller or pledgor;(B) fails to record a complete description of the amount and type of pesticide or compound, mixture, or preparation purchased or received; and(C) fails to obtain a signed warranty from the seller or pledgor that the seller or pledgor has the right to possess the property; and(9) an actor who is subject to Section 409, Packers and Stockyards Act (7 U.S.C. Section 228b), that obtains livestock from a commission merchant by representing that the actor will make prompt payment is presumed to have induced the commission merchant's consent by deception if the actor fails to make full payment in accordance with Section 409, Packers and Stockyards Act (7 U.S.C. Section 228b).(d) It is not a defense to prosecution under this section that:(1) the offense occurred as a result of a deception or strategy on the part of a law enforcement agency, including the use of an undercover operative or peace officer;(2) the actor was provided by a law enforcement agency with a facility in which to commit the offense or an opportunity to engage in conduct constituting the offense; or(3) the actor was solicited to commit the offense by a peace officer, and the solicitation was of a type that would encourage a person predisposed to commit the offense to actually commit the offense, but would not encourage a person not predisposed to commit the offense to actually commit the offense. Nowhere in that definition will you find a mention of taxes. On top of that, those who argue that this is taking by threat of force, are probably thinking of Robbery, not theft. Arguably they could be talking about extortion, which in Texas is a subset of theft.

These are the advantages of leasing.(1) Lease may be low cost alternative: Leasing is alternative to purchasing. As the lessee is to make a series of payments for using an asset, a lease arrangement is similar to a debt contract. The benefit of lease is based on a comparison between leasing and buying an asset. Many lessees find lease more attractive because of low cost. For example - you are transferred to another city for 6 months. For daily travel you need a car. If you buy car in your own name then as per Motor Vehicles Act you have to pay one time road tax and incur other expenses besides cost of car. You can always sell the car after 6 months before leaving. It may be economical to take a car on lease for 6 months as lease rental may be less than net cash outflow arising from difference between total cost of the car and sale value you realise.(2) Tax benefit: In certain cases tax benefit of depreciation available for owning an asset may be less than that available for lease payment. In other words, differential tax treatment between owning an asset and taking it on lease may result in a decision in favour of lease. For example - if a firm owns an asset, it gets tax saving for depreciation on book value as per the I-T law (in case of MAT, depreciation on the book value is as per the depreciation schedule of the Companies Act, 2013, based on useful life), but in case of lease rent entire lease rental is tax deductible. In some cases this differential tax treatment means a higher tax savings for lease, implying lease is a smarter decision subject to other factors.(3) Working capital conservation: When a firm buy an equipment by borrowing from a bank (or financial institution), they never provide 100% financing. Depending upon the firm’s credit rating bank may finance 75% or 60% (say) of total cost of equipment. The rest 25% or 40% (as the case may be), the firm has to bring in - the amount that the firm provides as down payment from its own source is called margin money. Margin money requirement naturally reduces firm’s working capital (and liquidity). In case of high value asset the amount may be substantial having an adverse impact on operation. But in case of lease one gets normally 100% financing in the sense that one needn’t bring in margin money generally for taking an asset on lease. This enables conservation of working capital.(4) Preservation of Debt Capacity: As per the accounting standard operating lease is not capitalised in the books of the lessee. Operating lease payment is treated as expenditure in the profit and loss account. Neither the asset taken on lease appears as asset nor does the liability representing present value of future lease payment (cost of leased asset) appear as liability in the balance sheet. That is, operating lease doesn’t have any balance sheet impact. So, operating lease does not matter in computing debt equity ratio. This enables the lessee to go for debt financing more easily. The access to and ability of a firm to get debt financing is called debt capacity (also, reserve debt capacity). Operating lease, if it is properly structured, can work efficiently as a substitute of debt though there may hardly be any difference between the two in respect of regular cash out flow; but at the same time it keeps the debt capacity in fact.However, it is to be noted the above preservation of debt capacity is not generally applicable for finance lease as the present value of future lease payment (cost of leased asset) appears as liability in the balance sheet of the lessee and to be duly considered in calculating debt equity ratio.(5) Obsolescence and Disposal: After purchase of leased asset there may take place technological obsolescence of the asset. That means a technologically upgraded asset with better capacity may come into existence after purchase. To retain competitive advantage the lessee as user may have to go for the upgraded asset. The obsolete old asset may fetch a small portion of the book value upon disposal resulting in capital loss. In case of cancellable operating lease the lessee can terminate the contract in such circumstances. However, it is to be kept in mind that where there is a possibility of technological obsolescence the lessor will cover the risk by fixing a higher lease rental.(6) Restrictive Conditions for Debt Financing: When a company takes loan to purchase equipment (say), in the loan agreement lender may impose several restrictions on the borrower company to protect his interest. Apart from creating charge on the equipment purchased ( primary security), lender may ask for collateral securities on other assets, like -mortgage of landed property, pledging fixed deposit receipts with the bank, asking for guarantor etc. The lender can impose other conditions too - like restriction on payment of dividend, putting lender’s representative on the board to ensure proper utilization of fund etc. In case of lease such tight conditions are not imposed as lessor remains the owner of the asset legally and he can recover the asset if the lessee fails to abide by the lease termsAbove answer is taken from ca final sfm faculty Aaditya Jain Sir books.

I'm not sure what country or state you are asking about. So I will answer based on what I know about Texas. SO...Texas imposes a 6.25 percent state sales and use tax on all retail sales, leases and rentals of most goods, as well as taxable services. Local taxing jurisdictions (cities, counties, special purpose districts and transit authorities) can also impose up to 2 percent sales and use tax for a maximum combined rate of 8.25 percent.In the 2016-17 biennial budget sales taxes make up 53.8% of the Texas general revenue.Once collected, sales taxes goes to the following funds or commissions: (Just a small sample)Parks and Wildlife DepartmentTexas Historical CommissionGeneral revenue fundState highway fundRural volunteer fire department insurance fundEtc…From the statute: “After the initial deposit, transfers from the general revenue fund to other funds shall be made at the time, in the manner, and in the amounts provided by law.” In 2018 a portion of the general revenue fund is being directed to the state highway fund.In addition to sales tax here are some other taxes the Texas Comptroller administers:9-1-1 Fees and SurchargeAutomotive Oil Sales FeeBattery Sales FeeBoat and Boat MotorCement ProductionCoastal ProtectionCoin-Operated Machines TaxControlled SubstancesCrude OilFireworksFranchiseHotel (State only- local jurisdictions are responsible for their own portion)InheritanceInsurance Taxes, Assessments and FeesLoan Administration FeeManufactured HousingMiscellaneous Gross ReceiptsMixed Beverage TaxesMotor Fuels and IFTAMotor Vehicle TaxesNatural GasOil and Gas Well ServicingOyster Sales FeePari-MutuelPublic Utility Gross Receipts AssessmentRetail Charge Agreement Delinquency FeeSexually Oriented Business FeeSulphur ProductionTexas Emissions Reduction Plan (TERP) - Off Road Heavy Duty Diesel Equipment SurchargeTobacco Taxes and FeesThese amounts collected go to various programs the state legislature wants to fund.