ORIGINAL: Hossfly
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As far as we are concerned the negotiations happened right here in TX when we submitted the Charter Application.
At worst my club paid $30 plus $60 for one additionally insured. Annual tax bill is $4.37. With extreme diligence we just might be able to swing it.
Incidentally the form and tax is NOT NEW. Been there for a long time. We have forms dating back to '95, revised in '99 and again in 12/04.
For those with questions: 1-800-252-1387. Seems like JB's knees are jerking again.
Hoss-
I hope you share your knowledge of pertinent tax code matters with D Holland, setting aside for the moment the good advice of Napoleon Bonaparte: "Never interrupt your enemy while he is making a mistake."
Gotta admit, I was surprised when Jim reported that the advice he got was a formula based directly on the number of members in the club (corporation). Appears that the interpretation of the TX tax code is that TX requires corporations to pay tax on insurance premiums paid by individual shareholders in the corporation for insurance purchased from a company not licensed to sell insurance in TX. Pretty novel, even amongst the more creative tax grabs. Lessee......I am a shareholder in a number of corporations based in various states/countries. I generally purchase stocks through Fidelity Investments, a MA corporation, and MA is not the state of any of my residences. I purchase HO and landlord's insurance from companies that I presume to be licensed in the states where the residences I maintain are located, but I haven't a clue if they are licensed in the states where the companies I am a shareholder in are incorporated.
Plan A: Ignore the *******s, let them catch me if they can. It will cost them more to compile my tax bill than they can possibly take outta my hide.
Abel