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Sales Tax and RegistrationTax

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Dennis Thate

Joined: 18 Nov 2010
Posts: 362

Posted: Sat Feb 26, 2011 10:04 am Post subject: Sales Tax and RegistrationTax

.

In Minnesota I have to pay State sales tax and a yearly registration annual fee. My Registration fee is based on a formula that is; cost to build, and the year built.



    Seems each  state has a different set of rules every time someone sends in the paperwork.  The "big-guys" simply put there planes into a corporation, lease it back to themselves and pay sales tax on a "as-used" basis - a monthly or quarterly amount that they supposedly bill themselves for the use of their own airplane.  

 

Guys who live across the border in another state end up not paying a dime!



 Here is how it breaks down for me in Minnesota for a  2006 Kolb Firestar 503.



Cost to build;      $18000.00

Purchase price;   $12000.00

Sales Tax              $825.00

Registration Fee       $83.52

This is my first aircraft owner-ship, so how does this compare to your state ? Does your state have any additional fees ........Just Curious



?

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Both optimists and pessimists contribute to our society. The optimist invents the airplane and the pessimist the parachute. ~Gil Stern

slyck(at)frontiernet.net
Guest

Posted: Sat Feb 26, 2011 10:55 am Post subject: Sales Tax and RegistrationTax

In New York, known as a "high tax state" , we have so far not caught the serious attention of the revenooers.  

There is no registration or annual fee.  -likely because there aren't enough planes here to generate a noticeable yield.

I think I paid a $40 sales tax.  -attributable to the fact that my MkIII was built from a pile of junk that I dragged home.

It is always a good idea to look for loopholes before you build.



BTW, in the same vein, the little trailer I bought recently in Florida, on my own half acre, in a low crime zone,

cost me $134.00 in closing costs.  

Taxes about $200 year

public water, no fees



I'm almost starting to feel patriotic 

BB



On 26, Feb 2011, at 1:04 PM, Dennis Thate wrote:



 	  Quote: 	
		   

 

 .

 

 

 In Minnesota I have to pay State sales tax and a yearly registration annual fee. My Registration fee is based on a formula that is; cost to build, and the year built.

 

    Seems each  state has a different set of rules every time someone sends in the paperwork.  The "big-guys" simply put there planes into a corporation, lease it back to themselves and pay sales tax on a "as-used" basis - a monthly or quarterly amount that they supposedly bill themselves for the use of their own airplane.  

 

 Guys who live across the border in another state end up not paying a dime!

 

 Here is how it breaks down for me in Minnesota for a  2006 Kolb Firestar 503.

 

 Cost to build;      $18000.00

 Purchase price;   $12000.00

 Sales Tax              $825.00

 Registration Fee       $83.52

 

 

 This is my first aircraft owner-ship, so how does this compare to your state ? Does your state have any additional fees ........Just Curious

 

 

 

 ?

 

 --------

 Both optimists and pessimists contribute to our society.  The optimist invents the airplane and the pessimist the parachute.  ~Gil Stern

 

 

 Faith is believing what you know ain't so - Mark Twain

 

 

 

 

 Read this topic online here:

 

 http://forums.matronics.com/viewtopic.php?p=332147#332147

 

 

 

 

 Attachments: 

 

 http://forums.matronics.com//files/4__2006_kolb_firestar_ii_lsa_364.jpg

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captainron1(at)cox.net
Guest

Posted: Sat Feb 26, 2011 7:12 pm Post subject: Sales Tax and RegistrationTax

In Arizona there is some sort of a formula based on the valuation of your airplane. My Beech annual personal property tax is about 250 bucks. However after it is 40 years old which is next year it  becomes an antique and then registration is about 40 bucks a year. Next year my airplane will be an antique. yepee 

As for the Kolb, which will be renamed to something else and will be valuated at about 12K I am estimating a tax of about 50 per year. 



Ron (at) KFHU



===================

---- robert bean <slyck(at)frontiernet.net> wrote: 



=============




In New York, known as a "high tax state" , we have so far not caught the serious attention of the revenooers.  

There is no registration or annual fee.  -likely because there aren't enough planes here to generate a noticeable yield.

I think I paid a $40 sales tax.  -attributable to the fact that my MkIII was built from a pile of junk that I dragged home.

It is always a good idea to look for loopholes before you build.



BTW, in the same vein, the little trailer I bought recently in Florida, on my own half acre, in a low crime zone,

cost me $134.00 in closing costs.  

Taxes about $200 year

public water, no fees



I'm almost starting to feel patriotic 

BB



On 26, Feb 2011, at 1:04 PM, Dennis Thate wrote:



 	  Quote: 	
		   

 

 .

 

 

 In Minnesota I have to pay State sales tax and a yearly registration annual fee. My Registration fee is based on a formula that is; cost to build, and the year built.

 

    Seems each  state has a different set of rules every time someone sends in the paperwork.  The "big-guys" simply put there planes into a corporation, lease it back to themselves and pay sales tax on a "as-used" basis - a monthly or quarterly amount that they supposedly bill themselves for the use of their own airplane.  

 

 Guys who live across the border in another state end up not paying a dime!

 

 Here is how it breaks down for me in Minnesota for a  2006 Kolb Firestar 503.

 

 Cost to build;      $18000.00

 Purchase price;   $12000.00

 Sales Tax              $825.00

 Registration Fee       $83.52

 

 

 This is my first aircraft owner-ship, so how does this compare to your state ? Does your state have any additional fees ........Just Curious

 

 

 

 ?

 

 --------

 Both optimists and pessimists contribute to our society.  The optimist invents the airplane and the pessimist the parachute.  ~Gil Stern

 

 

 Faith is believing what you know ain't so - Mark Twain

 

 

 

 

 Read this topic online here:

 

 http://forums.matronics.com/viewtopic.php?p=332147#332147

 

 

 

 

 Attachments: 

 

 http://forums.matronics.com//files/4__2006_kolb_firestar_ii_lsa_364.jpg

 

 

 

 

 

 

 


	


--

kugelair.com

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kolbaircraft

Joined: 17 Dec 2010
Posts: 48

Posted: Mon Feb 28, 2011 5:15 am Post subject: Sales Tax and RegistrationTax

Wow



kolb CO.

---

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Dennis.Kirby(at)kirtland.
Guest

Posted: Mon Feb 28, 2011 8:48 am Post subject: Sales Tax and RegistrationTax

"Dennis Thate" wrote:  

<< In Minnesota I have to pay State sales tax and a yearly registration annual fee… $83.52  so how does this compare to your state ? ... Just Curious >>

 

In my state, it seems we have it easy.

A homebuilt airplane here has only an annual registration fee.

The formula used for New Mexico is a penny a pound, based on stated gross weight.

 

So for my 1000-lb aircraft, I pay $10 per year.

 

Dennis Kirby

Mark-III, 912ul, PowerFin-72

Sandia Park, NM

 

 

 

 [quote][b]

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neilsenrm(at)gmail.com
Guest

Posted: Mon Feb 28, 2011 10:40 am Post subject: Sales Tax and RegistrationTax

In Michigan they charge sales tax on the plane purchase. I gave them a

believable purchase cost for the kit and the VW engine but seems like I said

it would cost me 6-8 thousand for the build. I don't remember how they

caught up with me, may have been the N number request for the FAA. I also

pay a yearly registration fee based on the value of the plane and it is $10

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