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California Tax Loophole......still open, but for how long?

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Old 07-01-2004, 06:28 PM
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Default California Tax Loophole......still open, but for how long?

From the LA Times yesterday........I know it saved me $20K when I bought my Formula 382 a few years ago.



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Old 07-01-2004, 09:01 PM
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Default Re: California Tax Loophole......still open, but for how long?

I bought my powerplay out of sate, had it delivered outside of California and it's federally documented. I know that sooner or later, California will come after me sometime for the tax $$.
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Old 07-01-2004, 09:27 PM
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Default Re: California Tax Loophole......still open, but for how long?

Again it's a flawed look at tax paying. Individuals with the capacity will ALWAYS work the rules their ways LEGALLY. I own a home in NH and have for a long time it is declared as my residence and I spend 6 months and 1 day over there a year... this entitles me to register vehicles and boats over there legally and not have to pay VT taxes on them where I spend the other 182 days of the year.
Changing laws will not make them collect more. It's easier to pay to work the system legally to dodge the taxes civil servant come up with (with the help of motivated private sector accountant) than it is to be ignorant to all the subtleties in the law.

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Old 07-01-2004, 09:59 PM
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Default Re: California Tax Loophole......still open, but for how long?

Sssooooooooo.. . . .
A friend of mine has a boat that he bought in TX a little over a year ago. It WAS a documented vessel. This 'friend' has yet to complete the documentation process.
Being a good citizen, he would like to complete the documentation process, but would like to avoid any 'unnecessary' expenses. With the '90 day marina' in mind, can this person still document his vessel, while still avoiding any 'unnecessary' expenses. ? ? ?

What kind of documentation is necessary to validate the '90 day marina' solution to 'unnecessary' expenses ? ? ?

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Old 07-01-2004, 10:01 PM
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Default Re: California Tax Loophole......still open, but for how long?

This might help ya........... (I mean your "friend")


http://www.weilaw.com/31_vesselpurchase.htm

http://www.weilaw.com/32_offshoredelivery.htm
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Old 07-01-2004, 10:06 PM
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Default Re: California Tax Loophole......still open, but for how long?

Thanks Nort, I am sure my 'friend' will appreciate this information immensely, and the drinks are on 'him' next time around.

Now I think 'he' has some reading to do . . .
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Old 07-01-2004, 10:14 PM
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Default Re: California Tax Loophole......still open, but for how long?

Quote:
Originally Posted by rouxsterre
Thanks Nort, I am sure my 'friend' will appreciate this information immensely, and the drinks are on 'him' next time around.
Now I think 'he' has some reading to do . . .
Your friend being a Patriots fans he might take a while reading all of those two pages hope he can hack it.
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Old 07-01-2004, 10:15 PM
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Default Re: California Tax Loophole......still open, but for how long?

Great.....well lucky for you, your 'friend' is buying!!!
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Old 07-01-2004, 10:25 PM
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Default Re: California Tax Loophole......still open, but for how long?

Quote:
Originally Posted by GLH
Your friend being a Patriots fans he might take a while reading all of those two pages hope he can hack it.
My 'friend' is indeed a WORLD CHAMPION NEW ENGLAND PATRIOTS fan.

So tell me GLH, . .. how is your NEW HAMPSHIRE professional sports franchise lookin this year . . . NFL, NHL, MLB, or NBA . . . take your pick. Maybe there is a pro curling, or ice-fishing team I may have missed in the Sports Section. . . .
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Old 07-01-2004, 10:43 PM
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Default Re: California Tax Loophole......still open, but for how long?

I'm a little closer to your team than you are in CA, I think... but then again you St-Patrick's dude might have a different measurement capacity than we do, geographically speaking of course.

Also I am currently in Vermont a little further than NH.
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