Taxing issue

I just moved to coastal Georgia, Eagle Neck Airpark. I moved from central Florida (cause Florida is full) and was wondering if anyone out there knows how Georgia taxes your aircraft. In Florida it was a one time sales tax. I think I heard that here in Georgia it's part of your annual property tax assessment. I could be wrong. Thanks for any insight you might have on the subject. Jack

Yep, it' annual...

Jack,

Georgia calls it an 'ad valorem' tax; based on the value of the item. It applies to cars, planes, boats, etc. Nothing more than a hidden 'luxury tax' to support the constantly-broke, politically corrupt capital city called Atlanta. Sorry to sound bitter, I've been here 44 years and it's only gone downhill.

It will be assessed annually, you'll get a bill around February. On the flip side, you can listen to Neal Boortz on AM750 talk about the Fair Tax Reform!

Marty

Delaware corp?

Hi Jack,
I'm presently looking at changing my business (A Georgia corporation) to a Delaware corp. It's in the early stages, but many individuals I know have their airplanes registered to a Delaware corp and claim to avoid the property tax. Check it for yourself.

BTW, Jenny and I will be at 1GA0 at 11:00 a.m. today (Friday).

Pierre

Delaware corp doesn't help. You still get charged a "use tax", at least I do from Gwinnett county. Not sure if state taxes are rolled into that? I've never gotten a bill from the state (did I say that in public?)

PM for other questions about Delaware corps.

Consult your tax professional. Good luck!