Transferring airplane out of corporation

[ilovecornfields]

For those of you dying to know the exciting conclusion, I received a letter stating my use tax waiver “for no consideration” had been accepted. Glad to not have to pay that again.

[carusoam]

Great follow-up RLC!

Thanks for sharing it.

Best regards,

-a-

[thinwing]

I am an S corp and the question i would pose is not sales tax but income tax both state and federal liabilty due to transfer of asset to employee of the s corp.