AOPA Cardinal tax value?

And anyone that has taken a look-see at the AOPA Cardinal will realize that
THIS Cardinal is no-doubt THE FINEST!! IMHO


"Kyle Boatright" wrote in message
...

"Mike Noel" wrote in message
. ..
Any idea what the tax value will be on the AOPA Cardinal? The latest
AOPA mag claims about 350K has been invested by various suppliers in the
plane. If the tax man thinks it is worth 350K, wouldn't someone need to
shell out nearly 100K in taxes to claim it?

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Best Regards,
Mike

http://photoshow.comcast.net/mikenoel

While the aircraft is certainly spruced up, the "investment" on the part
of most of the suppliers is essentially in an advertising expense which
gets their shop's or product's name in the magazine repeatedly.

Win the airplane and you'll get taxed on a basis which is equivalent to or
slightly above the price of the nicest Cardinal(s) currently trading
hands.

My guess is that the world's nicest Cardinal is worth $100k - $125k, which
probably means taxes of between $30k and $40k. Not a bad price to pay for
a very nice airplane.

KB