| (v) a statement that no items were purchased tax-free
under the exemption in this subsection during the period covered by
the report, if applicable; or for each item purchased tax-free under
this exemption the following information:
(I) the name, address, and comptroller-issued taxpayer
identification number of the seller;
(II) the date of purchase;
(III) the name or description of the item, or like
items;
(IV) the purpose or brief explanation of how the item,
or like items, were, or are to be, used;
(V) the sales price of the item;
(VI) the lease or rental terms, if applicable; and
(VII) the current location of the item.
(B) Report periods. The initial report covers the time
period from the date of certification of the qualified person and
the related qualified media production location through August 31.
For example, if the qualified person and the related qualified media
production location received certification on April 1, the initial
report period is April 1 through August 31. Subsequent reports cover
the time period from September 1 through August 31 of the following
year.
(C) The report is due September 30 each year. If the
due date falls on a Saturday, Sunday, or legal holiday, the report
will be due the next business day.
(k) Exemption certificates. The exemptions under this
section may be claimed by providing the seller with a properly completed
exemption certificate at the time of purchase in lieu of paying sales
and use tax. See §3.287 of this title (relating to Exemption
Certificates).
(l) Divergent use.
(1) When a taxable item purchased tax-free under a
properly completed exemption certificate is used in a taxable manner,
sales and use tax is due. The tax is calculated based on the fair
market rental value of the tangible personal property for the period
of time used in the taxable manner. See §3.287 of this title
and Tax Code, §151.155 (Exemption Certificate).
(2) Records must be maintained to document the taxable
use of an item purchased tax-free, and the payment of sales and use
tax due on such use.
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