AU_James
Pre-takeoff checklist
This is one of the many things I learned this first time around.
This is another one of those things!
[Ohio] State tax dept wants purchase price info so they can tax me...
- Thread starter jimmyjack
- Start date
This is one of the many things I learned this first time around.
This is another one of those things!
Joey4420
Pre-takeoff checklist
I am no tax lawyer, but if the LLC wasn't in the business of selling aircraft, it could still be considered a casual sale. I would at least ask, before paying taxes.
MD11Pilot
Line Up and Wait
The county I live here in Texas just sent me a bill for property tax for my rent of a city owned hangar. I protested and was handed a stack of papers from previous legal actions that went all the way to the Texas Supreme Court ruling that it was legal. Exact words of the tax assessor was “we don’t like it but the city is exempt and someone has to pay”. Haven’t faced a tax on my plane yet.
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MooneyDriver78
En-Route
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Tom
Don’t know about Ohio, but other states will assess penalties if tax not paid on time, interest rate runs 10-12%.
denverpilot
Tied Down
At first glance, that’s insane. But Texas pays for everything out of property taxes I learned when my family lived there, so anywhere else that case would have been tossed out of the first court it saw... but Texas...
That must be some really convoluted law to be required to pay property taxes on property you don’t own.
We pay Commercial rate property tax on our hangar land lease. I asked why commercial. Answer, it could be. Paid $1027.82 for 1000 ft sq t-hangar.