Buster1 Posted December 24, 2009 Report Posted December 24, 2009 Thanks in advance for the help, someday I hope to repay this forum with more answers than questions. What, if any, Federal Taxes do you pay on an airplane? Is there a luxury tax of any kind? I know some people who buy boats or motorhomes sometimes have to pay these taxes. Thank you, Happy Holidays!
skyking Posted December 24, 2009 Report Posted December 24, 2009 Some states do indeed pay a tax every year. I believe Delaware or somewhere on the East coast started doing it a few years ago.
Buster1 Posted December 24, 2009 Author Report Posted December 24, 2009 Google found some things, but it seems that the old laws have been canceled...thankfully...I hope. At least for "cheaper" aircraft, I think we're in the clear, but NY tried last year to impose a Lux Tax on the below items...guess it failed. As a result of federal legislation, effective January 1, 1991, a new federal excise tax is imposed on "luxury" items over special dollar limits: 30,000 for passenger autos $100,000 for boats $250,000 for aircraft $10,000 for jewelry and furs
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