Re: [Titanaircraft] Buying an Aircraft

Probably another good reason for buying an ultralight. You can hide it away in your garage and the TAX COLLECTOR can't find it. Jerry from www virtual ultralight museum dot com

________________________________
From: Jim Covington <jim@covington.name>
To: Titanaircraft@yahoogroups.com
Sent: Fri, December 4, 2009 5:04:57 AM
Subject: Re: [Titanaircraft] Buying an Aircraft

 
Sounds like you've checked out your state well.

I think NY is the worst. Sales tax (even if bought out of state,
although you do get credit for any out of state taxes paid) +
registration fee + property tax. Registration & property taxes are
recurring. Registration is controlled at the state level; property taxes
varies by city & county.

MA, another tax-happy state, is surprising both reasonable and fair. One
tax a year, based on weight (Under 2,000 is $100) and the money stays
with the aeronautics commission for airport improvements - it doesn't
get poached for the general fund (like NY.) Your plane is exempt (by
law) from all local property taxes.

beberle1@bellsouth. net wrote:
>
>
> Buying an airplane is a daunting task. The taxes and liens have me a
> little dazed. I'm considering buying my first aircraft, Please fill in
> the blanks if I'm missing anything:
>
> -Make sure to do a lien/title search. If there is an existing lien,
> you're stuck w/ it.
> -Sales tax is paid to the state where the aircraft is purchased.
> -I live in GA and it appears they have a Use tax to get you in case
> you purchased the aircraft in a state w/o sales taxes. However, you
> get a credit towards the Use tax if you've already paid an equal
> amount of sales taxes?
> -Property tax... from what little I could find, it looks like 1.8%
> annually in Coweta county. Since a plane doesn't depreciate very much,
> are you stuck w/ the same amount in taxes every year? For a $25k
> aircraft, that looks like $500/yr in taxes :-/
>
> All insight/advice welcome~!
> Brian
>
>

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