REFLECTOR:A TOUCHY SUBJECT!

[Jim Agnew]

Yes you can form a corporation in Delaware and in most
states where you live they will hit you with a use tax
which is at the same rate as the sales tax in that state. 
Don't pay it and the will lock up your plane, boat, etc.

Connecticut even tried it on out of state boats docked
there and I heard aircraft and if you could not prove you
paid sales tax.  I know, I received a letter on my NY state
documented yacht.

Jim

--- Herb Sanders <hsanders@bellsouth.net> wrote:
> You can form a corporation in Delaware
> www.corpamerica.com and they have no state sales or
> income tax.  
>   ----- Original Message ----- 
>   From: Tom Martino 
>   To: Velocity Email List (E-mail) 
>   Sent: Friday, June 13, 2003 11:53 AM
>   Subject: REFLECTOR:A TOUCHY SUBJECT!
> 
> 
>   I hesitate to bring this up ... but it something we all
> have to face.  Whenever Iregister a plane with the FAA, I
> get a notice shortly after from the State Revenue
> Department wanting SALES TAX!  If you don't come up with
> what they consider to be "fair market value", they assess
> a value and make you pay taxes on that!
> 
>   This is my first homebuilt.  How have you guys valued
> the plane for tax purposes?


=====
James F. Agnew
Jim_Agnew_2@Yahoo.Com
Tampa, FL
Velocity 173 Elite Aircraft Completed