Hangar Flying => Hangar Flying => Topic started by: allen on March 20, 2006, 04:40:34 PM
Title: Tax issues when buying.
Post by: allen on March 20, 2006, 04:40:34 PM
Anybody have some first hand experience with purchasing a plane in California and taking it out of state. The planes that I am seriously looking at are in California and Arizona. I would be relocating it to Virginia. I know that there would be some sales tax involved and from what has been explained to me so far I would pay sales tax in California. If it is more than I would have paid in Virginia all is well with the world. What I am trying to gauge is what those numbers look like. I think I have them down but would like some expertise from those who have survived the taxman recently. When I have settled on a plane and ready to write the check I would like to not have any surprise costs.
Title: Tax issues when buying.
Post by: Drew on March 20, 2006, 05:32:04 PM
If taking it back to Virginia, you pay Virginia tax.
If you lived in CA and bought in CA, you would pay CA tax. If you then moved to another state (within a certain timeframe---which I don't remember what that is), you would then owe the new state the difference between the tax rates (if CA tax was less than the new state).