Co Locator Legalities

[CalGoldDredger]

Hey that sounds great. Have at it.
I knew there was a good reason for hangin' with these old farts on this forum.

Now how can I get my family members to quit claim and transfer all to me....hmmmmm.

[Geo-George]

Oh ya,.....Taxes?
Yes, if you sell a claim, or portion thereof, you will be responcible for any sales taxes that may apply.
Check with your tax preparer on this one. I pay a portion of a yearly county tax, but don't know about
the taxes reguarding sale.
I believe it is concidered real property, and thereby subject to applicable sales taxes.

[Hoser John]

It's a USURY TAX as in the right to mine is taxed and not real property taxed-thankfully. John

[CalGoldDredger]

Let's not talk about taxes. See no evil, hear no evil. Ahhh, isn't that how it works.

[Reno badboy]

I belong to a mining club and we just bought a 160 acre claim. Once it's claimed and turned over to new owner ,one person can own a 160 acre claim without all the other names. One person can own up to 10 claims to still be considered a small mining operation. Just make sure all your paper work is in order.

[Hoser John]

The formation of a "Limited Liability Partnership/corp" is relatively easy and restricts your liabilities ,financially that is,to amount initially invested or agreed upon previously. Me--I'd worry about ding dongs for partners like on the Ak gold show now on tv--YOU ARE 100% LIABLE FOR IDJETS ACTIONS and guests on any claim you own--especially with a multi person partnership---John

[CalGoldDredger]

Does that included ATV wrecks plenty of those by family and non family alike. Lesson learned, I think, maybe, nah probably not.

[Hoser John]

Brain buckets can only save those with enough brains to wear'm,wanna end up like Busey???John