lml@lancaironline.net Mailing List Archive

<<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> << Lancair Builders' Mail List >> <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> Dick, Et Al in Illinois The IL Revenuers have sharpened their pencils (if not the points on their heads) in recent years and here are my Cliff Notes (used just before you jump off the aforementioned cliff): 1. IL dept of revenue are ignorant of all things having to do with aircraft -- Only the IDOT Aeronautics Div (DOA) know what to do. 2. DOA gets N-numbers (airworthy aircraft or not) from the Feds and cross checks with their registration. If they don't match, you get the "ugly" tax letter. 3. If you followed the rules and submitted the required DOA IL registration, then you had to provide "bill of Sale" information showing you paid sales tax or it was tax exempt because the transaction was between private individuals. 4. Confusing issue: You are not required to register with DOA until the aircraft is certified "airworthy", but the State requires you pay sales or use tax on the thing (kit, etc) within 30 days of it being brought into IL. In this case, only the Serial Number is known since there is no "license plate" or FAA N registration. Don't be late, there are penalties. 5. Claiming your "business" also includes being an aircraft dealer no longer keeps you from paying the tax since the new rules require that you sell an acquired aircraft within one year or you pay the tax. 6. Sales tax is based on where you live, not where the plane is located. If you live in Chicago (9% sales tax), even if the plane is in Kane county (5.5% sales tax). Good Luck! Scott Krueger Lord save us all (at least a tithe was a single fixed predictable plannable 10% rate) N92EX Dick - Call me at my cell 630-561-0400 or evenings at 630-655-4811 to hear additional horrible details. _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com LML website: http://www.olsusa.com/Users/Mkaye/maillist.html LML Builders' Bookstore: http://www.buildersbooks.com/lancair Please send your photos and drawings to marvkaye@olsusa.com.