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Someone please correct me if I misspeak...
I believe the FMV registration is a one-time payment to the tax department ($50 or so) that is good for a 5-year registration. A regular trailer registration must be renewed annually.
I plan to register my newly acquired M105A2 as a FMV trailer in Texas. Per GL's rules, I took possession of the trailer and then submitted a request for the SF97 (including the $60 payment). Now I wait. As soon as the SF97 comes in, I will go down to the tax office to obtain a Texas title and...