Directed to Tony(Ga) & Tim(Atlanta) - Posted by Ray(Ga)

Posted by Tony (Ga) on March 19, 2002 at 11:33:03:

A seasoned veteran? Sorry, I’m just as new as everyone else. My lady and I are still learning the ropes of creative real estate investing. It was my fortune to marry a beautiful lady that happens to be a judge; therefore, I seek her opinion in legal matters and have a copy of the Georgia Code on computer. The best bet for steering clear of problems is to find a good accountant to navigate the tax channels. This is the tax web page - http://www.ganet.org/rules/index.cgi?base=560/12/1 Here is the code section for the license information :
Georgia Statute 8-2-135.
© Every dealer who sells or offers for sale new or used manufactured homes or mobile homes in Georgia shall apply for and obtain a license.
(d) Applications for licenses and renewal licenses shall be obtained from the Commissioner and submitted to him on or before January 1 of each year. All applicants shall certify in the application that all
construction, electrical, heating, and plumbing standards will be complied with as set forth in this part and in the rules and regulations of the Commissioner.
(e) The license and renewal license fee shall be $200.00 per manufacturing plant which manufactures manufactured homes within the State of Georgia; $200.00 per out-of-state manufacturing plant which
manufactures manufactured homes for the purpose of offering for sale, or having such homes sold, within the State of Georgia; and $100.00 per dealer location which sells, offers for sale, or transports to sell such homes within the State of Georgia. The license shall be valid from January 1 through December 31 of the year in which it was issued. The fee for delinquent renewal applications received after January 10 of each year shall be double the regular annual renewal fee.

This is the information on sales tax :
560-12-1-.06 Cash or Accrual Basis. Amended.
(1)(a) Any person taxable under the Act for both cash and credit sales may report such sales on either the cash or accrual basis of accounting. Those persons reporting on the accrual basis shall report and remit the tax due on all transactions, whether credit or cash, occurring during the reporting period. The first return filed under the Act shall be deemed an election as to the method of reporting such sales. Provided, however, for the purposes of reporting under the Act, any person who takes a note or other written contract to pay and subsequently sells, assigns or transfers such contract, with or without recourse, shall be deemed to have received cash payment at the time of such sale or discount.

(b) when any dealer sells, discounts or otherwise disposes of his accounts receivable, or discontinues business, such dealer shall include in his sales and use tax report for the current month the gross amount of such original sales on which sales tax has not been previously remitted to the State, irrespective of the sales price of such accounts.

Directed to Tony(Ga) & Tim(Atlanta) - Posted by Ray(Ga)

Posted by Ray(Ga) on March 19, 2002 at 10:31:59:

I’ve read a number of posts from both of you and you seem to be seasoned veterans. I wonder if you could inform me on dealer status requirements in Ga and if sales tax must be paid and collected? Thank you for your time…Ray(Ga)

Re: Directed to Tony(Ga) & Tim(Atlanta) - Posted by Tim (Atlanta)

Posted by Tim (Atlanta) on March 20, 2002 at 06:13:32:

I can’t say that I am experienced in the buying and selling of mobile homes. I specialize in mobile home notes and partials. The one thing that Tony(Ga) left out is that you get your dealer license from the state insurance commissioner, John Oxendine. I believe you are required to have the license if you buy and sell more than 3 homes in a year. I seem to have heard that somewhere, but can’t put my finger on it right now.