Re: [Titanaircraft] Re: Buying an Aircraft

You can get title insurance on a plane? They're untitled property, right?

Roger wrote:
>
>
> I've never paid sales tax in the state I purchased a plane. But
> I've always paid sales/use tax in my home state when it was
> delivered here. Generally ...if you're not going to use it in the
> state you purchased it in it's except. Check that state's tax laws,
> though, it could be taxable. I know here in Nebraska .. when you make
> out the form you subtract what you paid to another state if you did.
>
> You can order the CD on the plane from the FAA with all the records.
> It's $10. www.faa.gov Also .. it's not a bad idea to purchase
> title insurance. I've done that on occasion.
>
> RT
>
> --- In Titanaircraft@yahoogroups.com
> <mailto:Titanaircraft%40yahoogroups.com>, "beberle1@..."
> <beberle1@...> 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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