There have been some discussions on the RV news group lately on taxes. It seems some people have had tax assessors assess a value to their uncompleted projects and tax them on it. I know that there are a few accountants on this list. What kind of tax do you get on an uncompleted project? I assume it is a state tax and varies by state? How do they even know you have a project? Do they tax you as soon as you register it and they get information from the FAA? Would I be better off registering my project now while it is only worth a few thousand instead of waiting until it is worth a lot more?
Any advice, particularly from people with experience in Florida would be appreciated. I bought my last KR already flying and the state sales tax people contacted me for their cut. I don't know how it is done when you build it. Brian Kraut Engineering Alternatives, Inc. www.engalt.com
