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#11
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Dave S wrote: Whats the value of the Twin Commanche? According to AOPA, the current value of the "project" is $225,500. And.. 30% of that is??? (just rough round numbers...) $67,650. And in my case, the State of New Jersey wants their 6% income tax and 6% usage tax, for an additional $27,060. George Patterson If a man gets into a fight 3,000 miles away from home, he *had* to have been looking for it. |
#12
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Nathan Young wrote: I would keep it, fly the heck out of it, and smile all the time... I wonder what the cost basis is for the plane for tax purposes? $225,500. So far. George Patterson If a man gets into a fight 3,000 miles away from home, he *had* to have been looking for it. |
#13
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I'd finance part of it for what I need to pay the taxes and a few years
insurance and fly it for a while.. and see what happens then.. I'm sure AOPA would "cover expenses" to have it show up at a few airshows or Conventions sponsored by AOPA for membership marketing purposes. BT "Rosspilot" wrote in message ... Just wondering what you guys would do with that sweepstakes airplane if Phil called you up and told you it was yours. Keep or sell? www.Rosspilot.com |
#14
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no income tax here... but it would hit the "personal property tax" which
would be about $2K per year BT "G.R. Patterson III" wrote in message ... Dave S wrote: Whats the value of the Twin Commanche? According to AOPA, the current value of the "project" is $225,500. And.. 30% of that is??? (just rough round numbers...) $67,650. And in my case, the State of New Jersey wants their 6% income tax and 6% usage tax, for an additional $27,060. George Patterson If a man gets into a fight 3,000 miles away from home, he *had* to have been looking for it. |
#15
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#16
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God Bless Texas
No personal property tax on personal use airplanes.. No State Income Tax. Dave BTIZ wrote: no income tax here... but it would hit the "personal property tax" which would be about $2K per year BT "G.R. Patterson III" wrote in message ... Dave S wrote: Whats the value of the Twin Commanche? According to AOPA, the current value of the "project" is $225,500. And.. 30% of that is??? (just rough round numbers...) $67,650. And in my case, the State of New Jersey wants their 6% income tax and 6% usage tax, for an additional $27,060. George Patterson If a man gets into a fight 3,000 miles away from home, he *had* to have been looking for it. |
#17
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Dale writes:
If I could swing the insurance I'd keep her for a while at least...assuming I could pay the taxes. If I had a pig, I could make a ham-and-cheese sandwich, if I had a cow to make milk for cheese. I'd sell the damn thing. The taxes would kill me. |
#18
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"BTIZ" writes:
no income tax here... but it would hit the "personal property tax" which would be about $2K per year You don't live in the US and thus not subject to Federal income tax? |
#19
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"Kyle Boatright" writes:
then build an RV-3A so I can bring out even more of my inner fighter pilot... Ahhh...one of those personality types that we were talking about in another thread...that raises statistical accident rates....:-) |
#20
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"Bob Fry" wrote in message ... "Kyle Boatright" writes: then build an RV-3A so I can bring out even more of my inner fighter pilot... Ahhh...one of those personality types that we were talking about in another thread...that raises statistical accident rates....:-) "Those" people are dangerous, no doubt. I, on the other hand, have an excellent safety record and plan to continue to only *contemplating* stupid things, instead of actually doing them.. ;-) |
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