Author: Larry R <_lr_@...> Time: Thu Nov 13, 2003 5:22 pm PST Link
--- WOldejr@a... wrote:
> Seriously, look into forming a Delaware S-Corporation. Delaware does
> not have
> a sales tax nor an annual personal property tax on the value of the
> completed aircraft....
Each state is different, but here in NY they've been know to troll the
ramps looking for new N numbers, or sift through the FAA records for
new ones that are corporate, and see where the corporation sends its
mail. A friend of mine got bagged on a newly-aquired Cherokee 140 and
had to pay a penalty of about 10-20%, if my memory serves me right.
Setting a dollar value on a homebuilt might be something of an issue.
I'd rather pick a number and send in a check, than have them decide it
for me in an enforcement action. Your mileage may vary.
-lr
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