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: CVR/FDR Expansion, Focusing On Santa Monica, NASAO Boss, GE9X Engine, 1000th H-60M, Verizon Drones, New LAS ATC A Transportation Safety Board of Canada team is currently inve>[...]
Aero-News Quote of the Day "Think of this transition as changing an engine on a plane when it's inflight. Rolling out STARS in our nation's busiest airspaces, without disrupting ai>[...]
Aero Linx: The Society of United States Air Force Flight Surgeons (SoUSAFFS) SoUSAFFS was established in 1960 to more specifically support the USAF FS than AsMA at large could. Sin>[...]
Final Approach Point The point, applicable only to a nonprecision approach with no depicted FAF (such as an on airport VOR), where the aircraft is established inbound on the final >[...]
A Few Questions AND Answers To Help You Get MORE Out of ANN!>[...]