Mailing List lml@lancaironline.net Message #7748
From: <ByronMFox@aol.com>
Subject: Re: Sales Tax
Date: Mon, 27 Nov 2000 13:33:36 EST
To: <lancair.list@olsusa.com>
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Hi Rob:

I bought my 320 and brought it to California in January 1999.  The state sales tax folks finally caught up with me and I just paid 7+% of the $75,000 purchase price.  The other recent sale that I'm aware of is Lee Behel's 360.  He was asking $85,000, but I don't know what the actual sales price was.  I believe the state will try to determine the market value of your airplane based on comparables.  So, you're looking at +/- $5,600 less whatever sales taxes you have already paid.

Incidentally, my tax bill came to $6,431 including penalties and interest for not advising the State Board of Equalization that I brought the plane into the state a year and a half ago.  Confession is good for the soul.

LML website:   http://www.olsusa.com/Users/Mkaye/maillist.html
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Please send your photos and drawings to marvkaye@olsusa.com.

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