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Delaware Corporation for Aircraft Owners



 
 
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  #1  
Old July 4th 03, 07:30 PM
Paul Millner
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Default Delaware Corporation for Aircraft Owners

in some states you may have the option of a one-time $6000 sales tax
payment vs. a $600 annual use-tax payment

What state offers that option, Richard?

Paul


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  #2  
Old July 4th 03, 08:59 PM
Richard Kaplan
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"Paul Millner" wrote in message
...

What state offers that option, Richard?


Pennsylvania for sure and I believe lots of other states as well -- see the
"exemptions" on the back side of this form for an example:

http://www.revenue.state.pa.us/reven...ue/rev-832.pdf


Basically if you purchase an airplane for the purpose of renting it to
pilots then you are exempt from sales/use tax and instead all the renters
(including yourself) pay perpertual use tax on the fair rental value of the
airplane.

--
Richard Kaplan, CFII

www.flyimc.com





  #3  
Old July 5th 03, 03:26 AM
jay somerset
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On Fri, 04 Jul 2003 19:59:25 GMT, "Richard Kaplan"
wrote:



"Paul Millner" wrote in message
...

What state offers that option, Richard?


Pennsylvania for sure and I believe lots of other states as well -- see the
"exemptions" on the back side of this form for an example:

http://www.revenue.state.pa.us/reven...ue/rev-832.pdf


Basically if you purchase an airplane for the purpose of renting it to
pilots then you are exempt from sales/use tax and instead all the renters
(including yourself) pay perpertual use tax on the fair rental value of the
airplane.


That is also the case in Maryland. Leaseback aircraft are exempt from
sales/use tax (on the purchase price) and also exempt from Personal
Property Tax.

 




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