Tax Tips & Traps to Avoid When Buying a Jet

Post Category: Newsletter

Before entering into an aircraft purchase agreement, it’s imperative to understand that sales and use tax requirements are state-specific. Failing to account and plan for sales and use taxes can result in an unexpected tax bill including substantial penalties and interest. Many states are increasingly prone to audit jet aircraft owners, but there are strategies to minimize your tax liability while still remaining tax-compliant.

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