---------------------------------------------------------- Yak-List Digest Archive --- Total Messages Posted Fri 07/06/07: 6 ---------------------------------------------------------- Today's Message Index: ---------------------- 1. 12:44 AM - Test (kp) 2. 05:03 AM - CJ Ownership - Taxes (Craig Winkelmann) 3. 05:27 AM - Re: CJ Ownership - Taxes (A. Dennis Savarese) 4. 09:17 AM - Re: Test (Tim Gagnon) 5. 09:21 AM - Re: Re: Test (kp) 6. 09:28 PM - Re: CJ Ownership - Taxes (Zjopa) ________________________________ Message 1 _____________________________________ Time: 12:44:12 AM PST US From: "kp" Subject: Yak-List: Test Test only ________________________________ Message 2 _____________________________________ Time: 05:03:03 AM PST US From: "Craig Winkelmann" Subject: Yak-List: CJ Ownership - Taxes I am soon to take ownership of my CJ (looking forward to being an active member of the CJ/Yak community!!). I am wondering if anybody has their planes registerd in Deleware or as a corporation to aviod the hefty use/personal taxes some states levy? I'd welcome any guidance and both pro and con comments You can contact me off list if you desire. Thanks, Craig W Soon to be CJ Owner ________________________________ Message 3 _____________________________________ Time: 05:27:55 AM PST US From: "A. Dennis Savarese" Subject: Re: Yak-List: CJ Ownership - Taxes Craig, Some states, regardless of whether it is registered to a Delaware corporation or a business in general or to an individual, levy personal property tax if the aircraft is located in their state. The states that do have personal property or Ad Velorum taxes as they are sometimes called, do not care to whom or where the aircraft is registered. They only care that the aircraft is based in their state. Since CJ's are not typically listed in the aircraft blue book for establishing a value to calculate taxes due, it would be in your best interest to have a Bill of Sale with an "acceptable value" (acceptable value means acceptable to you. Read between the lines here) for potential sales tax and personal property tax purposes which you can present to your local tax collector. Many states, like Florida for example, levy a use tax at the same rate as their sales tax rate when the aircraft is located in their state for the first time. Much like when you move to a new state, you pay use tax on your automobile when registering your automobile. State aviation departments have people who review the FAA's aircraft registration database on a daily basis, looking for new aircraft registrations in their state. I have also seen state aviation departments do ramp checks and write down N numbers to research the aircraft registration information. If they find that the aircraft is actually based in their state, they send out tax bills. If you keep your airplane at a private airfield in a private hangar, then it is a little more difficult for state aviation departments to find. Not impossible, but just more difficult. Hope this helps. Dennis ----- Original Message ----- From: Craig Winkelmann To: yak-list@matronics.com Sent: Friday, July 06, 2007 7:01 AM Subject: Yak-List: CJ Ownership - Taxes I am soon to take ownership of my CJ (looking forward to being an active member of the CJ/Yak community!!). I am wondering if anybody has their planes registerd in Deleware or as a corporation to aviod the hefty use/personal taxes some states levy? I'd welcome any guidance and both pro and con comments You can contact me off list if you desire. Thanks, Craig W Soon to be CJ Owner ________________________________ Message 4 _____________________________________ Time: 09:17:01 AM PST US Subject: Yak-List: Re: Test From: "Tim Gagnon" Ops checks good. Read this topic online here: http://forums.matronics.com/viewtopic.php?p=122514#122514 ________________________________ Message 5 _____________________________________ Time: 09:21:29 AM PST US From: "kp" Subject: Re: Yak-List: Re: Test Its very quiet on the list these last few days ! Is it 4th July hangover syndrome ? Play safe kp ----- Original Message ----- From: "Tim Gagnon" Sent: Friday, July 06, 2007 5:16 PM Subject: Yak-List: Re: Test > > Ops checks good. > > > > > Read this topic online here: > > http://forums.matronics.com/viewtopic.php?p=122514#122514 > > > > > > > > > > > ________________________________ Message 6 _____________________________________ Time: 09:28:04 PM PST US Subject: Yak-List: Re: CJ Ownership - Taxes From: "Zjopa" Dennis is right that all states are different... BUT If you are in any doubt about the tax laws for YOUR state... PLEASE talk to a tax accountant... We are ALL experts here on this site as you will find ;) BUT I had to jump through MANY hoops when I first imported my Yak... Important things are... Where did you take delivery of the airplane, and where will it be based... Also (TRUE) what state is your drivers license? The drivers license gives the state proof that you are resident there. Luckily I had proof that I had owned the aircraft for a year outside the country.. (while it was being restored) Otherwise I would have an $8000 tax bill!!! Beware! Read this topic online here: http://forums.matronics.com/viewtopic.php?p=122597#122597 ------------------------------------------------------------------------------------- Other Matronics Email List Services ------------------------------------------------------------------------------------- Post A New Message yak-list@matronics.com UN/SUBSCRIBE http://www.matronics.com/subscription List FAQ http://www.matronics.com/FAQ/Yak-List.htm Web Forum Interface To Lists http://forums.matronics.com Matronics List Wiki http://wiki.matronics.com Full Archive Search Engine http://www.matronics.com/search 7-Day List Browse http://www.matronics.com/browse/yak-list Browse Digests http://www.matronics.com/digest/yak-list Browse Other Lists http://www.matronics.com/browse Live Online Chat! http://www.matronics.com/chat Archive Downloading http://www.matronics.com/archives Photo Share http://www.matronics.com/photoshare Other Email Lists http://www.matronics.com/emaillists Contributions http://www.matronics.com/contribution ------------------------------------------------------------------------------------- These Email List Services are sponsored solely by Matronics and through the generous Contributions of its members.