![]() |
If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
|
Thread Tools | Display Modes |
|
#1
|
|||
|
|||
![]()
If one wanted to reserve a unique N-number while they were building a plane,
how long can you keep renewing the reservation (understanding you'd have to pay a fee each time)? I thought it was for only a year or so, but faa.gov makes it sound like you can renew at least once, but didn't see an upper limit on the number of times. Anyone know for sure? Thanks; Carl |
#2
|
|||
|
|||
![]()
I know a guy who reserved a number for twelve years before his
airplane flew; just keep paying the fee. Your state may contact you if they register/tax aircraft, but every such state I know of exempts homebuilts under construction; they'll require you to contact the state office within a certain period after the FAA issues the airworthiness certificate. (Save all parts/materials receipts to establish the tax basis or registration fee. Some states also factor in your labor hours -- at some pitifully small rate -- so you may have to show building-time records, too.) |
#3
|
|||
|
|||
![]()
On Wed, 14 Nov 2007 18:17:52 -0800 (PST), quietguy
wrote: I know a guy who reserved a number for twelve years before his airplane flew; just keep paying the fee. Your state may contact you if they register/tax aircraft, but every such state I know of exempts homebuilts under construction; they'll require you to contact the state office within a certain period after the FAA issues the airworthiness certificate. (Save all parts/materials receipts to establish the tax basis or registration fee. Some states also factor in your labor hours -- at some pitifully small rate -- so you may have to show building-time records, too.) Wasn't that fee to hold an "N" number one of the ones they are going to raise up quite a bit with the new registration fees? I'm holding one, but if they raise the fee up from $10 to $50 a year, I may just go ahead and register my unfinished homebuilt and then deal with the state, who will most certianly come after me for personal property tax. Homebuilts, especially ones that are unique, the state has a hard time establishing a value for, so they came to me and asked what is was worth for the one I have that's finished and flying. |
#4
|
|||
|
|||
![]()
On Nov 16, 2:59 pm, IO540 wrote:
Wasn't that fee to hold an "N" number one of the ones they are going to raise up quite a bit with the new registration fees? It was part of the FAA's reauthorization/restructuring proposal, which got shot down by Congress this fall: http://www.aopa.org/pilot/features/2007/feat0705.html Look about two-thirds of the way through the AOPA article (from May 2007) and you'll see the proposals: $80 to register a 'special' N- number (i.e., one not assigned at random) and $50 to renew it. Shot down with all the rest -- but soaking us for 'vanity plates' is clearly on their minds at the FAA. It's unclear from the AOPA's wording but it looks as if the FAA wanted to hit us up for these fees every year for existing aircraft as well as for reserved N-numbers. |
#5
|
|||
|
|||
![]()
On Fri, 16 Nov 2007 13:41:02 -0800 (PST), quietguy
wrote: On Nov 16, 2:59 pm, IO540 wrote: Wasn't that fee to hold an "N" number one of the ones they are going to raise up quite a bit with the new registration fees? It was part of the FAA's reauthorization/restructuring proposal, which got shot down by Congress this fall: Yah, but today the AOPA said the administration is still pushing for User fees and those would probably fall right in with these. Roger (K8RI) http://www.aopa.org/pilot/features/2007/feat0705.html Look about two-thirds of the way through the AOPA article (from May 2007) and you'll see the proposals: $80 to register a 'special' N- number (i.e., one not assigned at random) and $50 to renew it. Shot down with all the rest -- but soaking us for 'vanity plates' is clearly on their minds at the FAA. It's unclear from the AOPA's wording but it looks as if the FAA wanted to hit us up for these fees every year for existing aircraft as well as for reserved N-numbers. |
#6
|
|||
|
|||
![]()
On Fri, 16 Nov 2007 13:41:02 -0800 (PST), quietguy
wrote: On Nov 16, 2:59 pm, IO540 wrote: Wasn't that fee to hold an "N" number one of the ones they are going to raise up quite a bit with the new registration fees? It was part of the FAA's reauthorization/restructuring proposal, which got shot down by Congress this fall: http://www.aopa.org/pilot/features/2007/feat0705.html Look about two-thirds of the way through the AOPA article (from May 2007) and you'll see the proposals: $80 to register a 'special' N- number (i.e., one not assigned at random) and $50 to renew it. Shot down with all the rest -- but soaking us for 'vanity plates' is clearly on their minds at the FAA. It's unclear from the AOPA's wording but it looks as if the FAA wanted to hit us up for these fees every year for existing aircraft as well as for reserved N-numbers. Every year? that would be awful, and just put another nail in the coffin for GA. The FAA is persistant, that's for sure. The B-crats just can't get the thought from their mind that anyone who owns an aircarft is rich, and is a prime target for taxes for them to waste on many of their useless programs. |
#7
|
|||
|
|||
![]()
IO-540 wrote:
On Fri, 16 Nov 2007 13:41:02 -0800 (PST), quietguy wrote: On Nov 16, 2:59 pm, IO540 wrote: Wasn't that fee to hold an "N" number one of the ones they are going to raise up quite a bit with the new registration fees? It was part of the FAA's reauthorization/restructuring proposal, which got shot down by Congress this fall: http://www.aopa.org/pilot/features/2007/feat0705.html Look about two-thirds of the way through the AOPA article (from May 2007) and you'll see the proposals: $80 to register a 'special' N- number (i.e., one not assigned at random) and $50 to renew it. Shot down with all the rest -- but soaking us for 'vanity plates' is clearly on their minds at the FAA. It's unclear from the AOPA's wording but it looks as if the FAA wanted to hit us up for these fees every year for existing aircraft as well as for reserved N-numbers. Every year? that would be awful, and just put another nail in the coffin for GA. The FAA is persistant, that's for sure. The B-crats just can't get the thought from their mind that anyone who owns an aircarft is rich, and is a prime target for taxes for them to waste on many of their useless programs. Well getting special N numbers is kind of like vanity plates for cars. It's not like you really need them. |
#8
|
|||
|
|||
![]()
On Fri, 16 Nov 2007 15:59:08 -0500, IO540
wrote: On Wed, 14 Nov 2007 18:17:52 -0800 (PST), quietguy wrote: I know a guy who reserved a number for twelve years before his airplane flew; just keep paying the fee. Your state may contact you if they register/tax aircraft, but every such state I know of exempts homebuilts under construction; they'll require you to contact the state office within a certain period after the FAA issues the airworthiness certificate. (Save all parts/materials receipts to establish the tax basis or registration fee. Some states also factor in your labor hours -- at some pitifully small rate -- so you may have to show building-time records, too.) Wasn't that fee to hold an "N" number one of the ones they are going to raise up quite a bit with the new registration fees? I'm holding one, but if they raise the fee up from $10 to $50 a year, I may just go ahead and register my unfinished homebuilt and then deal with the Cars and airplanes in Michigan are not considered taxable as personal property, but we do have to pay sales tax on the value/investment. That often brings up the argument as to what the plane is really worth compared to what you have invested in it. I'd gladly register mine at $1.00 per hundred weight, or about $25 a year versus 6% of the value at registration time. In a well equipped Glasair III that could easily vary from a few thousand to over ten thousand dollars. Figuring what I have in it at present: Kit price (used but still in the crate), engine K1A5 IO-540, Prop (Hartzel 3 Blade like new with very little time on it) not counting labor would save me one whale of a lot of money. Thing is, this state's finances have been really screwed up by the current and past parties in power. So it they argue your well crafted bug smasher is worth $100,000 and you have $50,000 in it you may have a very difficult time getting them to budge and they don't care how many appraisals you have as they'll do their own. I think it was this past year one of the locals flew down south to purchase a plane at a really good deal (to top it off the plane was in very good shape too). The state refused to accept the bill of sale as the actual value as it was not typical of that make and model for that year. So he ended up paying close tax on close to double what he really paid for the plane. state, who will most certianly come after me for personal property tax. Homebuilts, especially ones that are unique, the state has a hard time establishing a value for, so they came to me and asked what is was worth for the one I have that's finished and flying. It doesn't help when they can go to Trade-a-plane and find asking prices up in the stratosphere for similar planes and with my luck they'd find one that was a prize winner at Oshkosh worth twice mine. Roger (K8RI) |
#9
|
|||
|
|||
![]() It doesn't help when they can go to Trade-a-plane and find asking prices up in the stratosphere for similar planes and with my luck they'd find one that was a prize winner at Oshkosh worth twice mine. Roger (K8RI) I'm building a Glasair 3 myself, and tactic I've seen used by a lot of homebuilders is to not name the aircraft what the kit maker calls it. Being the builder, and building 51% or more of it, you are free to name it anything you want to call it. Calling it a Glasair just helps the state out in figuring out what it's worth. I guess I'm lucky in that in my state, they don't actually go out and inspect a homebuilt at the airport, Mich. sounds a lot more agressive in that area. But we pay a yearly personal property tax on cars and planes, boats, ect.. And I've heard is the 3rd highest in the country for PPT. (SC). Homebuilts aren't so easy to set a value on, and states that go after them for tax money are especially greedy. Some builders never plan to sell them for fear of liability, so in those cases, the resale is hard to put a value on. RAM |
#10
|
|||
|
|||
![]()
On Sat, 17 Nov 2007 09:09:08 -0800, Richard Riley wrote:
An owner who goes that way should also list the engine as experimental. A Cozy builder locally listed his airplane as a Jones Runabout or some such, but listed the Lycoming 360 engine. The assessor said the last plane they'd billed with that kind of engine was a new Cessna 172, therefor the homebuilt was worth as much as the Cessna - $250k. That's a good tip. I would have never thought of the engine being a tax target. Posted Via Usenet.com Premium Usenet Newsgroup Services ---------------------------------------------------------- ** SPEED ** RETENTION ** COMPLETION ** ANONYMITY ** ---------------------------------------------------------- http://www.usenet.com |
|
Thread Tools | |
Display Modes | |
|
|
![]() |
||||
Thread | Thread Starter | Forum | Replies | Last Post |
AOPA Expo, meeting JayB, getting stuck in Lancaster on the way home,fulfilling the commercial certificate long solo x-c...long | Jack Allison | Piloting | 6 | November 19th 06 02:31 AM |
Another Long Cross Country: HPN to PAO in 6 Days (long) | Journeyman | Piloting | 19 | June 15th 06 11:47 PM |
30 minute reserve | Chris W | Piloting | 19 | June 15th 05 07:53 PM |
Pitts Number 1 registration number | Mirco | Aerobatics | 3 | December 4th 04 11:50 AM |
FA: New ASA IP Trainer V6.5 IFR - no reserve | Scaggs Island Pilots Supplies | Aviation Marketplace | 0 | August 26th 03 03:07 AM |