|
-
POSTING RULES

-
Donate yearly (please).
-
Advertise in here!
-
Today's Posts
|
Insert Pics
|

02-02-2006, 07:26 AM
|
|
|
|
Join Date: Jan 2005
Location: McLean, IL. 1IL9
Posts: 75
|
|
Illinois tax
Be careful what you post here. The "tax man" can read this too  I paid sales tax in IL., didn't like it  We don't have personal property tax. I am NO FAN of the blood sucking law makers.
"The power to tax is the power to destroy"
__________________
Jack Holland VAF#414
RV-7 flying since 2-06-05
200 hours as of 03-20-2007
Last edited by Rosie : 12-08-2006 at 12:38 AM.
|

02-02-2006, 10:52 AM
|
|
|
|
Join Date: Jan 2005
Location: EDVK
Posts: 323
|
|
North Dakota tax
ND:
No personal property tax.
5% state sales tax(ouch).
Annual aircraft registration $36 for an RV(fee is based on gross weight).
Jay Pratt nailed it on the head: the taxman is going to get you one way or another. So smile and say, "Please, sir, may I have another!"
__________________
[color=SlateGray]Mark Andrews
RV8A N598X
Last edited by Rosie : 12-08-2006 at 12:39 AM.
|

02-02-2006, 12:11 PM
|
 |
Super Moderator
|
|
Join Date: Dec 2005
Location: Salt Lake City, Utah
Posts: 1,158
|
|
Utah tax
Quote:
|
Originally Posted by gmcjetpilot
I know you are not asking can you cheat but some people do try to use the two state scam to avoid taxes, with differnt levels of success.
My suggestion is register and pay taxes in the same state you live and will base the plane. Some states have a one time tax and others charge tax yearly. Some states have exemptions and you may be able to get under one of those with creative accounting.
|
First of all I never do anything illegal in regards to taxes but try to work the system as much as legally possible limit my taxation liability. We have a CPA do all our taxes as well and give advice so that we know when we have crossed the line.
Our system is not fair but if I can legally register my plane in Arizona because I do own houses down there than I want to use that to my advantage. I will call my CPA and get back to you guys and let you know what she says.
Our system is broke and may never be fixed. Our system punishes business leaders who offer jobs, and reward those who don't want to put out the energy required to work in our country. It really is too bad.
I would guess that the RV-10 will be valued at $120,000 (I hope and not $250,000) which will put my tax here in Utah at $480 per year, but $25 sure sounds better. That is 10 hours of gas I would save. That is about the gas it will take me to get to Oshkosh and back. I wanna save that money.
__________________
Scott Schmidt
Salt Lake City, UT
RV-10 N104XP (1280 Hours)
RV-12 N321UT (Sold)
Last edited by Rosie : 12-08-2006 at 12:40 AM.
|

02-02-2006, 02:15 PM
|
 |
Super Moderator
|
|
Join Date: Dec 2005
Location: Salt Lake City, Utah
Posts: 1,158
|
|
Utah tax
CPA said even though I live in UT you can register in AZ but it is a little risky. But the only risk in being caught is paying back taxes to the State of Utah and nothing else. Not a huge penalty.
Due to the time I have at this point I will stay in UT
I may have lost this battle tax man, but I'll be back!!!!!
__________________
Scott Schmidt
Salt Lake City, UT
RV-10 N104XP (1280 Hours)
RV-12 N321UT (Sold)
Last edited by Rosie : 12-08-2006 at 12:41 AM.
|

02-02-2006, 03:40 PM
|
|
|
|
Join Date: Jan 2006
Location: NW Indiana
Posts: 17
|
|
Indiana tax
Hey all....
Speaking of vehicle taxes, I live in NW Indiana. We pay license plate fees based on what we buy a vehicle for. Its not unusual to see license plates over $500 here....I be HAPPY to have to pay $45 taxes on an airplane....lol
Alan
Last edited by Rosie : 12-08-2006 at 12:41 AM.
|

02-02-2006, 04:06 PM
|
 |
|
|
Join Date: Jan 2005
Location: 8A7 (NC)
Posts: 320
|
|
North Carolina tax
Quote:
|
Originally Posted by N941WR
****, I hate the taxman! (I could go on but this is not the place.)
Maybe this should be in the ?cost of ownership? thread.
Thanks.
|
I hate it too, but it's inevitable so just suck it up. I told my NC county when the plane was done, they asked what it was worth and sent me a bill. I'd rather do it that way instead of getting a surprise bill for back taxes and fines, etc. 
__________________
Larry Bowen
RV-8 Built, sold, missed.
RV-7 Built, sold, missed.
RV-8 Emp in progress ...
RV-8A Purchased, flying.
Last edited by Rosie : 12-08-2006 at 12:41 AM.
|

02-02-2006, 05:57 PM
|
 |
|
|
Join Date: Jan 2005
Posts: 4,285
|
|
Yep
Quote:
|
Originally Posted by ScottSchmidt
First of all I never do anything illegal in regards to taxes but try to work the system as much as legally possible limit my taxation liability.
|
Scott I hope you did not think I was implying you would do anything wrong, as you do have property in both states, and think you should be eligible to some extent as your tax pro said, who knows more than I want to know about taxes.
Do everything you can to be eligible to any tax break that is offered. I think what Larry said is true, know the rules and fight for every break you can get, but eventually you'll have to pay something. Many states have the one time excise tax, payed once and than just a yearly small fixed nominal registration fees after that. That's what I am use to. The best you can do is get the "valuation down". George
Last edited by gmcjetpilot : 02-02-2006 at 06:07 PM.
|

02-02-2006, 06:36 PM
|
|
|
|
Join Date: May 2005
Posts: 165
|
|
Nebraska
In Nebraska no PP tax. If you buy an airplane they sniff out the sale through the FAA and send you a statement and ask for a copy of the bill of sale and you will be taxed a one time fee of 5.5% sales tax. I have my N number reserved so I will get a statement form the state wanting to know how much I paid for it. They will get a part of the kit price.
I have my own strip that I fly my J-4 off of. I did have a Rallye but sold that so I could turn it into an RV. I rented a hanger at 6K3 for the first flights of my 9-A, it costs $40.00 per month.
Cheers
Last edited by Rosie : 02-08-2006 at 05:34 PM.
|

02-02-2006, 09:00 PM
|
|
|
|
Join Date: Jan 2005
Location: Boise, ID
Posts: 1,007
|
|
Idaho
Idaho state government actually has a mindset supporting aviation. Come on up and enjoy. Just don't kill yourself in the backcountry.
We pay an annual registration fee of $.01/lb of gross weight - $18 for my 7 - in lieu of property tax. The recurring cost is small, but you're going to get pinched big time at least once no matter where you live, triggered by acquisition or pulling an N number: sales (use) tax. Idaho is 5%. You can't duck it because the Feds squeal to the locals, and I'm sure that's true in every state. Use tax would be waived if you bleed sales tax upon purchase in another state. If your state has a sales tax, they expect you to pay them or the originating state. And if you don't have a sales tax, rapacious government wrings it out of you some other way (e.g., OR). Best to live based on where you want to live and not airplane tax issues.
John Siebold
Boise
|

02-02-2006, 11:19 PM
|
|
|
|
Join Date: Mar 2005
Location: Sandpoint, Idaho
Posts: 104
|
|
Idaho
Here in Idaho we pay Idaho tax at the rate of $.01 ( one cent) for each
pound of gross weight up to a max. of $200. No County tax as long as you
pay the state tax. my RAV4 gross will cost $15 a year and if I fail to pay
the state tax it will cost about $1500 property tax.
Ted
Last edited by Rosie : 02-08-2006 at 05:34 PM.
|
| Thread Tools |
Search this Thread |
|
|
|
| Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -6. The time now is 12:33 AM.
|