Thu, Dec 08, 2011
Newsday Calls For Changes In The State Tax Code To Make
Ownership Less Expensive
An editorial published in the New York publication
Newsday calls for the state's legislature to support a
bill which exempts private aircraft from a tax when they are moved
to New York from another state.
The bill passed the State Senate in July. In the editorial, the
paper indicates that the tax imposed on airplanes bought outside
New York but moved there permanently is based on the market value
of the airplane rather than the purchase price. Buyers pay a sales
tax based on the purchase price when the plane is purchased in
state. The tax brings between $3 and $15 million to the state per
year, which Newsday calls "small potatoes."
Because there is no sales tax on private airplanes in
neighboring states such as Connecticut, that's where the planes,
and the revenue and business they generate, are kept, according to
The editorial writers say exempting the planes from sales taxes
is the logical next step after the New York legislature cut the tax
on aircraft maintenance.
The bill has yet to pass the New York State Assembly.
Also: Blue Origin, Aero-Calendar, FA Legislation, F-35C Update, Delta Succession, First SLS Flight, PWC History Garmin has a game changer going as they announced their new GTX 345 >[...]
AD NUMBER: 2016-03-05 PRODUCT: Airbus Helicopters Deutschland GmbH (Airbus Helicopters) Model MBB-BK 117 C-2 helicopters with a certain Goodrich rescue hoist damper unit (damper un>[...]
AD NUMBER: 2016-03-02 PRODUCT: All Turbomeca S.A. ARRIEL 2C, 2C1, 2C2, 2S1, and 2S2 turboshaft engines with modification TU34 or TU34A installed.>[...]
Drone Webinar Video One of the hottest segments of aviation right now involves Unmanned Aerial Systems (UAS), commonly called drones. Whether for fun, for agriculture or for first >[...]
Turbulence encountered in air where no clouds are present. This term is commonly applied to high-level turbulence associated with wind shear.>[...]