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#6
August 29th 03, 06:37 PM
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"rip" wrote in message
m... Damn right they will. That's why you put "$1 and OVC" (other valuable considerations) on the sales receipt when you buy an aircraft, rather than the purchase price. Book value is negotiable, a receipt is not. I don't know the CT laws, but I suspect they are similar to WA. In WA, if the purchase price is obviously artificially low, they use an estimate of retail value instead of purchase price for the purpose of calculating the tax. 
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