Texas Auctioneer License-Part 1 Exam (Latest 2026) ||
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How long must a retailer keep sale tax records. - ANSWER-4
years
Who must have a sales tax permit? - ANSWER-Any
seller with a few
exceptions, real estate sales being one
exception.
Sellers with less than ________________(dollars) in sales per
year may file
annually. - ANSWER-
$1000
Sellers with sales more than $1000 and up to
________________(dollars) per
year may file quarterly. - ANSWER-$1500; all over $1500 must
file monthly.
Filers who file sales tax on time are given a
_________(%) discount. -
, ANSWER-
.5%
T or F. Sales tax is not due on agricultural products. - ANSWER-
False. If they products are for consumption or for the purposes
of manufacturing then they are exempt.
The fine for a seller that advertises that a buyer will not have
to pay sales tax,
when it is actually due is___________. - ANSWER-$500 and a
misdemeanor
With auction sales, who is responsible for remitting sales tax to
the state? - ANSWER-The auctioneer unless he/she does not
receive payment, does not invoice buyers. Then it is the seller's
responsibility.
Name 3 common types of property sold at auction that are
tax exempt. -
ANSWER-real property, livestock,
motor vehicles
Does a seller reclaiming his own property at auction need to
pay sales tax? -
ANSWER-
No.
If an auctioneer or seller is only auctioning tax exempt property
must he have a
Most Recent Exam 2026|2027 Actual Complete Real
Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ | Guaranteed
Success!! Latest Version | Brand New!!
How long must a retailer keep sale tax records. - ANSWER-4
years
Who must have a sales tax permit? - ANSWER-Any
seller with a few
exceptions, real estate sales being one
exception.
Sellers with less than ________________(dollars) in sales per
year may file
annually. - ANSWER-
$1000
Sellers with sales more than $1000 and up to
________________(dollars) per
year may file quarterly. - ANSWER-$1500; all over $1500 must
file monthly.
Filers who file sales tax on time are given a
_________(%) discount. -
, ANSWER-
.5%
T or F. Sales tax is not due on agricultural products. - ANSWER-
False. If they products are for consumption or for the purposes
of manufacturing then they are exempt.
The fine for a seller that advertises that a buyer will not have
to pay sales tax,
when it is actually due is___________. - ANSWER-$500 and a
misdemeanor
With auction sales, who is responsible for remitting sales tax to
the state? - ANSWER-The auctioneer unless he/she does not
receive payment, does not invoice buyers. Then it is the seller's
responsibility.
Name 3 common types of property sold at auction that are
tax exempt. -
ANSWER-real property, livestock,
motor vehicles
Does a seller reclaiming his own property at auction need to
pay sales tax? -
ANSWER-
No.
If an auctioneer or seller is only auctioning tax exempt property
must he have a
