KR> Aircraft Tax Question
Jack, I got my letter a couple of months ago. They wanted a copy of the bill of sale where I purchased the kit. I tried to explain that the airplane was not finished. They wanted me to pay the tax on the value of the plane finished. I made up a figure somewhere close to the amount that I had spent on parts and materials, which came to around $8K dollars and figured the tax and sent it to them with a copy of the bill of sale. They got me on my Lancair last year. Thank goodness you only have to pay it once. I should be flying the KR2 shortly. I have a few little things to finish and call the FAA. I have a friend at the FAA who is an inspector when you get ready. He says he enjoys checking out the experimentals. Some of the local RV boys use a DAR which is ok but, he charges $400.00 . The FAA does it for free. We pay their salaries so we might as well use them. From: "kr2coo...@comcast.net" <kr2coo...@comcast.net> To: KRnet <kr...@mylist.net> Sent: Tuesday, June 28, 2011 9:39 AM Subject: Re: KR> Aircraft Tax Question I recently got a letter and tax form from the state of Tennessee wanting me to pay sales tax on my KR. It ask if I bought it in state or out of state and if out of state what sales tax I paid. It also ask if it was a Kit and where I got the kit. I wrote them a letter with some pictures explaining that this was a plans built airplane not a kit and that I bought all parts from suppliers and paid appropriate tax on each individual part that I bought. They must have bought it because I haven't heard anything more from them but then again it is a bureaucracy so it may take a year or so to make a decision. Jack Cooper Chuckey TN. - Original Message - From: laser...@juno.com To: kr...@mylist.net Sent: Tuesday, June 28, 2011 12:35:52 AM Subject: KR> Aircraft Tax Question In my negotiations with the County Tax people just south of you I took pictures of my airplane in a disassembled state and included some early articles from Kitplanes and other magazines which contained the info that the plane has a VW engine and can be built for $3000 in materials - you can find all of that online. Include the Popular Mechanix cover story with a picture of Ken Rand and his original KR-1. Put a nice package of this info together for them - educate them. They only know RV's and factory builts when it comes to planes so you have to inform them of just how inexpensive and special the KR is - made out of styrofoam and plywood. This is a better route than asking owners what they think their airplanes are worth. We all think our planes are worth at least $25K. Mike Groupon Official Site 1 ridiculously huge coupon a day. Get 50-90% off your city's best! http://thirdpartyoffers.juno.com/TGL3141/4e095a8912090d459ast03vuc ___ Search the KRnet Archives at http://www.maddyhome.com/krsrch/index.jsp to UNsubscribe from KRnet, send a message to krnet-le...@mylist.net please see other KRnet info at http://www.krnet.org/info.html ___ Search the KRnet Archives at http://www.maddyhome.com/krsrch/index.jsp to UNsubscribe from KRnet, send a message to krnet-le...@mylist.net please see other KRnet info at http://www.krnet.org/info.html
KR> Aircraft Tax Question
I recently got a letter and tax form from the state of Tennessee wanting me to pay sales tax on my KR. It ask if I bought it in state or out of state and if out of state what sales tax I paid. It also ask if it was a Kit and where I got the kit. I wrote them a letter with some pictures explaining that this was a plans built airplane not a kit and that I bought all parts from suppliers and paid appropriate tax on each individual part that I bought. They must have bought it because I haven't heard anything more from them but then again it is a bureaucracy so it may take a year or so to make a decision. Jack Cooper Chuckey TN. - Original Message - From: laser...@juno.com To: kr...@mylist.net Sent: Tuesday, June 28, 2011 12:35:52 AM Subject: KR> Aircraft Tax Question In my negotiations with the County Tax people just south of you I took pictures of my airplane in a disassembled state and included some early articles from Kitplanes and other magazines which contained the info that the plane has a VW engine and can be built for $3000 in materials - you can find all of that online. Include the Popular Mechanix cover story with a picture of Ken Rand and his original KR-1. Put a nice package of this info together for them - educate them. They only know RV's and factory builts when it comes to planes so you have to inform them of just how inexpensive and special the KR is - made out of styrofoam and plywood. This is a better route than asking owners what they think their airplanes are worth. We all think our planes are worth at least $25K. Mike Groupon Official Site 1 ridiculously huge coupon a day. Get 50-90% off your citys best! http://thirdpartyoffers.juno.com/TGL3141/4e095a8912090d459ast03vuc ___ Search the KRnet Archives at http://www.maddyhome.com/krsrch/index.jsp to UNsubscribe from KRnet, send a message to krnet-le...@mylist.net please see other KRnet info at http://www.krnet.org/info.html
KR> Aircraft Tax Question
In my negotiations with the County Tax people just south of you I took pictures of my airplane in a disassembled state and included some early articles from Kitplanes and other magazines which contained the info that the plane has a VW engine and can be built for $3000 in materials - you can find all of that online. Include the Popular Mechanix cover story with a picture of Ken Rand and his original KR-1. Put a nice package of this info together for them - educate them. They only know RV's and factory builts when it comes to planes so you have to inform them of just how inexpensive and special the KR is - made out of styrofoam and plywood. This is a better route than asking owners what they think their airplanes are worth. We all think our planes are worth at least $25K. Mike Groupon Official Site 1 ridiculously huge coupon a day. Get 50-90% off your citys best! http://thirdpartyoffers.juno.com/TGL3141/4e095a8912090d459ast03vuc
KR> Aircraft Tax Question
Hello KR Netters; Recently the Los Angeles County Tax Assessor's Office unilaterally and without documentary justification valued my KR-1 at $15,000 and have proceeded to tax me at that rate. I purchased this aircraft in marginal flying condition and paid substantially less than what they have valued the aircraft. As such ... I filed an appeal with the County of Los Angeles. In my attempts to obtain documentary evidence to demonstrate the reasonable market value of my KR-1 at the hearing, I have found that information regarding price and sales of KR-1's is scarce? In an effort to sort this matter out and pay a fair property tax , I'm appealing to those of you who own KR-1's to send me an email (off list) indicating what the approximate fair market value of your KR-1. Alternately it would be helpful for any of you to tell me what you think my KR-1 is worth (in the blind). It has a 2180 vw GP engine with 500 hours on it. Roughly 700 hours on airframe. (No Log Books) It has no electrical system. It's tricycle gear. The Exterior and the Canopy are a 7 out of 10. It has no transponder and the Radio is a Handheld. Any assistance on this will be greatly appreciated. Marc Baca East Los Angeles, CA mbf...@yahoo.com 1N31SB http://www.greatplainsas.com/vwsbailey.html
