Co Locator Legalities

Information on how-to-file, important dates, and any other claim related information

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Re: Co Locator Legalities

Postby CalGoldDredger » Sun Dec 12, 2010 1:45 pm

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

Now how can I get my family members to quit claim and transfer all to me....hmmmmm. :mrgreen:
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Re: Co Locator Legalities

Postby Geo-George » Sun Dec 12, 2010 4:33 pm

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. :cry:
I have done so much, with so little, for so long, that I am now qualified to do anything with nothing.
Now, I just have to find the time to put the dang thing together.
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Re: Co Locator Legalities

Postby Hoser John » Mon Dec 13, 2010 6:49 am

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

Postby CalGoldDredger » Mon Dec 13, 2010 7:14 pm

Let's not talk about taxes. See no evil, hear no evil. Ahhh, isn't that how it works. :twisted:
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Re: Co Locator Legalities

Postby Reno badboy » Thu Jan 20, 2011 1:52 am

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.
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Re: Co Locator Legalities

Postby Hoser John » Thu Jan 20, 2011 7:24 am

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
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Re: Co Locator Legalities

Postby CalGoldDredger » Thu Jan 20, 2011 10:41 am

Does that included ATV wrecks :? :? :? plenty of those by family and non family alike. Lesson learned, I think, maybe, nah probably not. :lol:
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Re: Co Locator Legalities

Postby Hoser John » Fri Jan 21, 2011 7:01 am

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