PaulMillner
Cleared for Takeoff
- Joined
- Jan 14, 2011
- Messages
- 1,010
- Location
- Berkeley, CA
- Display Name
- Paul Millner
- Home Airfield
- OAK
Hello Folks,
I wanted to share a success story. While my Cardinal RG was down for extensive repairs and restoration, a buddy offered to lend me his idle Cardinal RG... only he never had insured it, wasn't a licensed pilot, etc. Long story slightly shorter, they only way I could insure his aircraft was to transfer it to my name and add it to my existing policy as a second aircraft.
I was, though, concerned about paying a 10% California use tax upon transferring the aircraft into my name, and subsequently transferring it back to his name.
I contacted Aero & Marine Tax Professionals (A&MTP) in Sacramento, and they were a delight to deal with. In my first call, the founder of the firm told we exactly how to structure the transaction to avoid use tax... and told me I didn't need to retain them. Only in the 1/100 chance that the notorious California Department of Tax and Fee Administration denied me, and denied my appeal, would I have to retain A&MTP, and he quoted me his fee, and assured me in that eventuality, he would make short work of them.
Note: The CDoTaFA used to be called the BOE, the Board of Equalization, but their reputation was *so* bad, they had to change their name... but not their tactics. I could tell stories.
After months of deliberation, fighting with BOE's website that would NOT allow me to enter the transaction on their form as I'd been advised by A&MTP (I printed out the form, filled it out manually in the manner Tom had directed, and mailed it in instead), and answering a series of accusatory inquiries from staffers at BOE, I finally got my "no tax owed" determination letter.
Thanks Tom Alston for your pro bono help that saved me $10,000 so far!
Paul
I wanted to share a success story. While my Cardinal RG was down for extensive repairs and restoration, a buddy offered to lend me his idle Cardinal RG... only he never had insured it, wasn't a licensed pilot, etc. Long story slightly shorter, they only way I could insure his aircraft was to transfer it to my name and add it to my existing policy as a second aircraft.
I was, though, concerned about paying a 10% California use tax upon transferring the aircraft into my name, and subsequently transferring it back to his name.
I contacted Aero & Marine Tax Professionals (A&MTP) in Sacramento, and they were a delight to deal with. In my first call, the founder of the firm told we exactly how to structure the transaction to avoid use tax... and told me I didn't need to retain them. Only in the 1/100 chance that the notorious California Department of Tax and Fee Administration denied me, and denied my appeal, would I have to retain A&MTP, and he quoted me his fee, and assured me in that eventuality, he would make short work of them.
Note: The CDoTaFA used to be called the BOE, the Board of Equalization, but their reputation was *so* bad, they had to change their name... but not their tactics. I could tell stories.
After months of deliberation, fighting with BOE's website that would NOT allow me to enter the transaction on their form as I'd been advised by A&MTP (I printed out the form, filled it out manually in the manner Tom had directed, and mailed it in instead), and answering a series of accusatory inquiries from staffers at BOE, I finally got my "no tax owed" determination letter.
Thanks Tom Alston for your pro bono help that saved me $10,000 so far!
Paul
