Registration/ownership tax on glider in Colorado

Any ownership/registration tax to be paid on new glider in Colorado?
California has one, Nevada doesn't.
Any ideas?

Andy

On Mar 4, 7:50 pm, "Andy Smielkiewicz" wrote:
Any ownership/registration tax to be paid on new glider in Colorado?
California has one, Nevada doesn't.
Any ideas?

Andy

No recurring ownership tax.

One time 2.9% state sales tax if purchased as resident and based in
unincorporated area. Same rate 'use' tax if pre-owned and owner
migrates bringing glider in.

If based in incorporated area, local sales tax may apply on top of
state tax. Generally 3.0% or greater meaning 6%+.

Frank

I can confirm this and that the revenue department pro-actively looks
at FAA registrations/Change of address! However, I don't believe they
will apply this if you can show sales tax was previously paid in
another state.
MIke

On Mar 4, 9:57 pm, "Frank Whiteley" wrote:
On Mar 4, 7:50 pm, "Andy Smielkiewicz" wrote:

Any ownership/registration tax to be paid on new glider in Colorado?
California has one, Nevada doesn't.
Any ideas?

Andy

No recurring ownership tax.

One time 2.9% state sales tax if purchased as resident and based in
unincorporated area. Same rate 'use' tax if pre-owned and owner
migrates bringing glider in.

If based in incorporated area, local sales tax may apply on top of
state tax. Generally 3.0% or greater meaning 6%+.

Frank

On Mar 4, 8:50 pm, "Andy Smielkiewicz" wrote:
Any ownership/registrationtaxto be paid on new glider in Colorado?
California has one, Nevada doesn't.
Any ideas?

Andy

Andy,

FYI. A friend of mine got a request here in Colorado for sales tax on
the used LS4 he bought. He ignored it and they then sent him a notice
of valuation of $150,000. He will have to appeal it. It seems the
state of Colorado is now estimating very high if there initial request
is ignored.

Stan

On 4/24/07 12:52 PM, in article
, "Stan - VA"
wrote:

On Mar 4, 8:50 pm, "Andy Smielkiewicz" wrote:
Any ownership/registrationtaxto be paid on new glider in Colorado?
California has one, Nevada doesn't.
Any ideas?

Andy

Andy,

FYI. A friend of mine got a request here in Colorado for sales tax on
the used LS4 he bought. He ignored it and they then sent him a notice
of valuation of $150,000. He will have to appeal it. It seems the
state of Colorado is now estimating very high if there initial request
is ignored.

Stan


Colorado has a sales tax for planes bought in Colorado, and a "use" tax for
planes bought elsewhere, but brought back to Colorado. By incredible
coincidence, those two work out so that the State gets the same amount of
money, regardless of where you bought the glider. I went through the whole
process about 18 months ago, on a glider bought in Massachusetts.

Get a real bill of sale, not just the FAA one: the State won't accept those
for valuation purposes.

It's a tricky process, because there are a lot of local taxes which can be
added on depending on where the ship will be based. My ship is based in
Elbert County, but I live in El Paso County (Colorado Springs). Had I used
my C/S address, it would have cost more for lots of little add-on taxes.

Ignoring the tax people doesn't work: they review the FAA registration
database, and if you miss the deadline, once they catch up to you there are
also late penalties involved.

Stay ahead of this one, is my recommendation.

The hardest part of the whole process for me, though, was getting a trailer
license plate from DMV. That was a real saga.

Bullwinkle

Colorado has a sales tax for planes bought in Colorado, and a "use" tax
for
planes bought elsewhere, but brought back to Colorado. By incredible
coincidence, those two work out so that the State gets the same amount of
money, regardless of where you bought the glider. I went through the whole
process about 18 months ago, on a glider bought in Massachusetts.

Get a real bill of sale, not just the FAA one: the State won't accept
those
for valuation purposes.

It's a tricky process, because there are a lot of local taxes which can be
added on depending on where the ship will be based. My ship is based in
Elbert County, but I live in El Paso County (Colorado Springs). Had I used
my C/S address, it would have cost more for lots of little add-on taxes.

Ignoring the tax people doesn't work: they review the FAA registration
database, and if you miss the deadline, once they catch up to you there
are
also late penalties involved.

Stay ahead of this one, is my recommendation.

The hardest part of the whole process for me, though, was getting a
trailer
license plate from DMV. That was a real saga.

Bullwinkle


Do three bill of sales. One for the glider, one for the trailer, one for
the instruments. Parse out the expense of the purchase accordingly. Submit
the glider BoS to the state.

I can confirm Bullwinkle's account, I live in Eagle
County but my trailer/ship stay in Chaffee County.
The local constable even came out to confirm my trailer
registration, having a serial number on the trailer
helps that process. As far as valuation for dodging
taxes, tell them what you paid. They seem quite able
to track down via the FAA , so don't wait on the State.

Think about this carefully before you assign values.
The insurance will likely cover the glider and the
trailer separately and you will want enough value on
the glider so that you can sell off the trailer by
itself and still come out ok in case of an accident.

At 23:54 24 April 2007, Jim Vincent wrote:

snip

Do three bill of sales. One for the glider, one for
the trailer, one for
the instruments. Parse out the expense of the purchase
accordingly. Submit
the glider BoS to the state.

On Apr 24, 6:05 pm, Nyal Williams
wrote:
Think about this carefully before you assign values.
The insurance will likely cover the glider and the
trailer separately and you will want enough value on
the glider so that you can sell off the trailer by
itself and still come out ok in case of an accident.

- Show quoted text -

Now you said the magic word -- INSURANCE! My advice is to know your
coverage for all possible circumstances. I recently learned that my
glider/trailer coverage isn't applicable to the trailer when it is
hooked up to the tow vehicle -- the tow vehicle's insurance is
supposed to cover it. For various reasons, I purchased a separate
liability policy for my trailer and now I think I'll be covered in
every imaginable circumstance (I hope)!

BTW, I live in Kern County, CA and they not so long ago stopped
sending tax bills for unsecured property under $5,000. I still receive
a bill for my glider but there are some out there that would not be
taxed.

Steve
AM