Hey everyone, I am excited to be joining the club soon as I am in talks to purchase a rocket! (very excited)
There have been a million questions...LLC or no? who does the pre buy? ECT... and I have been trying to educate myself as much as possible. Lots of good and bad advice and .02 to be found on every topic.
What I am trying to figure out is how to (legally) avoid sales taxes. We are in Texas and the aircraft is in another state. Texas has an exemption from use tax for "occasional sales made outside the state" on taxable items. I have read that SC has a max tax for aircraft sales of 300 or 500 dollars.
So my question is.... is it as simple as the buyers and seller meeting in SC to close and getting an affidavit stating the seller is NOT a retailer and is making an occasional sale? If I understand everything correctly, SC would take their 300-500 dollars and Texas would exempt me from the use tax.
Does anyone have any advice on this matter?
Thank you so much for any advice. I have been stalking these forums for some time in my research.
Austin