Sales tax

November 1, 2013 - 8:48am
Illustration © allapen - Fotolia.com

Unless you hang your hat in Delaware or New Hampshire or live in one of the few countries that don’t assess sales tax, you probably hand money to the government almost every time you buy something. In many U.S. states, the levy on purchases runs 5 to 7 percent or more and, with local surtaxes, you can wind up paying as much as 15.5 percent on most purchases.

March 14, 2012 - 2:00pm
Idaho’s decision to exempt parts installed on out-of-state aircraft from the 6-percent tax will be a boon to businesses in the state. (Photo: Western Aircraft)

Idaho Governor Butch Otter has signed bill H.417, which exempts sales tax on aircraft parts installed on out-of-state aircraft. An emergency clause included in the legislation makes the bill take effect immediately.

September 18, 2007 - 12:04pm

The Danish government is preparing to impose a 25-percent VAT sales tax on imported aircraft to close a loophole that has allowed owners to bypass taxes due in other European Union countries. Aircraft imported for “personal transportation” are currently zero-rated for VAT purposes in Denmark, and this has exempted just about all aircraft applications apart from gliders and other forms of recreational flying.

March 15, 2007 - 7:46am

California has amended its aircraft sales and use tax law, essentially closing a loophole that allowed buyers of aircraft and other big-ticket items to escape paying sales taxes.

November 16, 2006 - 10:55am

New York’s state Senate last week passed legislation (S.3655) sponsored by Sen. Bill Larkin (R-39th District) to provide a sales and use tax exemption on general aviation airplanes to be operated under Part 91 and purchased in the state. The exemption, if passed by the state Assembly and signed by the governor, would take effect on December 1.

October 18, 2006 - 5:41am

A letter from the Internal Revenue Service (IRS) can cause any taxpayer’s heart to skip a beat. For aircraft operators, whose main focus of government compliance is the FAA, it can be easy to overlook the many nuances of the federal and state tax codes to ensure all taxes are being paid.

September 14, 2006 - 6:17am

New York’s state Senate passed legislation (S.3655) sponsored by Sen. Bill Larkin (R-Croton-on-Hudson) to provide a sales and use tax exemption on general aviation airplanes to be operated under Part 91 and purchased in the state. The exemption, if passed by the state’s Assembly and signed by the governor, would go into effect on December 1.

 
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