Registration/Taxes - Best Route to go?

[Cobra303]

Hey FFR Fam, As I am still about a year out from my build I am curious what everyone has done regarding registration/taxes/fees for when the build is finally completed. Is it better to start the process earlier so that you're paying less in taxes later? Should I save every receipt and document every payment so that my appraisal amount is accurate? I'm sure there is a more advantageous route than others when it comes to these painful paperwork/legal hoops to jump through, and I've dealt with my own fair share with DMV problems in the past so would like to avoid any headaches from the get-go!

Anything specific to Colorado would be great but other states please join in with any tips or suggestions!

[silver_pilate]

In Texas, they really only want to see the large item receipts like kit, engine, transmission, rear end. It depends on the state and sometimes the individual you are working with. At a minimum, it needs to be running with fill safety/required gear and lights. Your state laws will tell you what is required to pass inspection and what type of inspection is needed. In TX, we do an master tech inspection but don't need the typical yearly/safety inspection if registering as a custom vehicle.

[FLPBFoot]

In IL they want the taxes paid on the main parts when you buy them. FFR will not charge you taxes and same with Blue Print on the engine and trans. I had to pay the taxes within 30 days of receipt to avoid penalties and interest. The proof of payment then was submitted when registration was applied for 18 months later.

[Cobra303]

In IL they want the taxes paid on the main parts when you buy them. FFR will not charge you taxes and same with Blue Print on the engine and trans. I had to pay the taxes within 30 days of receipt to avoid penalties and interest. The proof of payment then was submitted when registration was applied for 18 months later.

I'm in Colorado and I have heard of the penalties and interest that begins to accrue as soon as the 30 days of receipt. Where did you pay those taxes for the FFR and Blueprint purchases? Did you go to your local courthouse and file a specific form? I have been thinking of buying my engine/transmission earlier than getting the kit, and dont want to have to pay 3+ years of backtaxes and penalties/interest once I finally get the Cobra registered/plated.

Other than the FFR kit and Engine/Tranny that you have to pay taxes later, should I just hang on to all of my receipts and then that's what I would use when I finally register/plate my vehicle?

Thanks guys!

[edwardb]

Everyone has the same starting point. You'll get a Certificate of Origin from Factory Five and a sales order receipt showing what you paid for the kit. Beyond that, research what your state needs. Most states have detailed information on their websites. People's experience from other states isn't likely too meaningful.

[BradCraig]

I know your question is about taxes, but consider this as well. My experience is only applicable to NC....but educate yourself on the Title Bonding requirements for your state, you may have to gently educate your inspector. Mine was "absolutely sure" I had to bond mine due to FF not being able to assign a VIN. After a week of back and forth he placed a call to HQ in Raleigh and was told that I did not need a bond. My build is all new with receipts, if you have donor parts your situation may be more grey area.

[cob427sc]

Every state is different and it appears none are easy. In Massachusetts you need a receipt for everything down to the last nut and bolt prior to inspection by the State Police. Supposedly the police inspection is to catch stolen parts, but my experience over many cars as their number one priority is to make sure all sales taxes have been paid. Keep every receipt/invoice and do research wait your state requires early on in the build process.

[FLPBFoot]

I'm in Colorado and I have heard of the penalties and interest that begins to accrue as soon as the 30 days of receipt. Where did you pay those taxes for the FFR and Blueprint purchases? Did you go to your local courthouse and file a specific form? I have been thinking of buying my engine/transmission earlier than getting the kit, and dont want to have to pay 3+ years of backtaxes and penalties/interest once I finally get the Cobra registered/plated.

Other than the FFR kit and Engine/Tranny that you have to pay taxes later, should I just hang on to all of my receipts and then that's what I would use when I finally register/plate my vehicle?

Thanks guys!

In IL we have to file a ST-44 form with the invoice attached and a check for the taxes owed. This is mailed to the IL Dept of Revenue. I did this for the FFR Kit and then about 9 months later when I received the motor & trans from Blue Print. I kept copied of everything and that was used later when the License and Title was applied for. As for parts, some places collect the sales tax for IL when ordered and others do not. Most are pretty small so filing and paying for those can be done on your IL 1040 at year end.

Steve