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Aircraft purchase question
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March 17th 08, 07:35 PM posted to rec.aviation.owning
JGalban via AviationKB.com
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Aircraft purchase question
wrote:
The plane eventually will be under his name but if owner must be a US
citizen then the plane first has to register under my name and then
transfer to him prior leaving the US? But will I liable for NJ sales
tax ?
You will be liable for anything that an aircraft owner would be liable for.
That includes sales tax and or any recurring property taxes and fees (I'm not
sure about NJ, specifically).
What I'm getting at is that you will be the owner of the airplane. Every
now and then I hear about someone who had a vehicle belonging to someone else
"registered in their name". They are usually sorry that they loaned their
name out. Just remember, if it's your name on the bill of sale and
registration, you have all of the responsibilities of an aircraft owner.
John Galban=====N4BQ (PA28-180)
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