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aircraft tax tagged articles (0-20 of 54) ( 0.001 seconds )
- You Need to Know the Difference Between Sales and Use Tax or You'll Pay for Your Ignorance By: Thomas Alston
This article contains information designed to help a prospective aircraft or vessel buyer to understand the maze known as California Sales and Use Tax Laws and Regulations. This first section will contain some definitions. It clears up questions, such as, "Who owes the tax?" and "What is use tax?"
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- Aeromarinetaxpros.com: Contrary to What Is Being Said, There Is No Part 135 Sales Tax Exemption for Aircraft By: Thomas Alston
During the everyday conversations of aircraft dealers, brokers and prospective buyers the belief is being enforced that a Part 135 exemption exists in California. This belief is dangerous and misleading.
Tags: aircraft purchase, aircraft sales tax, california board of equalization
- AeromarineTaxPros.com: Advice About Taxes on Vessels Can Save Thousands of Dollars By: Thomas Alston
Different salespeople will tell you different things. They believe what they are saying and in the absence of an audit their advice will never be discovered to be wrong. It is a question of whether a strategy to legally avoid or diminish taxes exists and will survive a tax audit.
Tags: Vessel sales tax, California vessel tax, Yacht sales tax, Yacht purchase, Vessel purchase
- AeroMarineTaxPros.com: The Dealer License Myth By: Thomas Alston
Many times taxpayers call me when they receive a notice from the Board of Equalization; often they feel that they have been unfairly singled out. Many times they open the conversation with, “I have a dealer’s license. I don’t have to pay tax.” Unfortunately, I have to break the bad news.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Where Should I Take Possession Of My Aircraft? By: Thomas Alston
Definition of physical possession: This is where a party representing the seller and a person representing the buyer transfer physical possession and control of the aircraft from the seller to the buyer. This question of “Where should I take possession of my aircraft?” comes up every day.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Is There a Legal Way To Avoid Sales Tax? By: Thomas Alston
Every person who has contemplated an aircraft purchase in the last few years has asked the question, "Is there a legal way to avoid sales tax?" Most of these people ponder this question with the same seriousness as "Will I win the Lotto tonight?"
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Legally Avoiding Sales and Use Tax on Aircraft Purchases -- A Challenge Best Left to Professionals By: Thomas Alston
Anyone who buys or flies an aircraft in California is subject to taxation, but specialists can help purchasers save thousands of dollars.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Brokers May Be Held Liable For Sales Tax By: Thomas Alston
During a recent discussion with a business owner, he told me he was not required to have a seller’s permit because he was a broker and not a dealer. He said he called the California State Board of Equalization (Board) and they advised him he didn’t need a permit.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Out-of-State Affidavit Doesn't Exempt You From Filing a Tax Return For Aircraft Purchase By: Thomas Alston
Many sign affidavits when purchasing aircraft from a California retailer which allows them to make a purchase in a sales tax exempt manner. They probably have not been warned that subsequent to an audit of the retailer’s records the Board of Equalization will audit the purchase directly with them.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Hook Up With The Tax Pros At The Beginning By: Thomas Alston
When Michael Thibodeau contacted the California Board of Equalization (BOE) in search of advice, he thought he was taking a prudent action, never dreaming that the advice he got would lead to a ruinous tax bill.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeromarineTaxPros.com: Misunderstanding Will Double Your Tax By: Thomas Alston
If you have been overwhelmed by articles, advertising and friendly advice about the various schemes to legally avoid California Sales and Use Tax, let me set you straight about how to protect yourself. AeroMarine Tax Professionals (http://www.aeromarinetaxpros.com) handles this situation routinely.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeroMarineTaxPros.com: Off-Shore Delivery of a Yacht and 90 Days in Mexico Guarantees Nothing By: Thomas Alston
In a recent ruling by an attorney for the California Board of Equalization, a taxpayer’s purchase of a vessel was held to be taxable. This was done in spite of support that an off-shore delivery occurred and the vessel remained in Mexico and outside California for more than 90 days.
Tags: aircraft tax, aircraft purchase, airplane sale, aircraft sales tax, aircraft sale, Califor
- AeromarineTaxPros.com: Get it in Writing, or Pay the Price By: Thomas Alston
There is an organizational axiom which exists that states If it is not in writing it isnt true. If an organization wants to hold another person liable for the expert advice they offer, the company receiving the advice would receive their instructions in writing.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax, Aircraft for
- AeroMarineTaxPros.com: Transfer of Tangible Personal Property - Regulation 1595, Part 1 By: Thomas Alston
When contemplating the purchase of an aircraft, a potential owner must consider the ownership structure that will best suit their needs. Often, only afterwards, does the owner realizes they don't own the aircraft in the entity that is most beneficial for tax purposes or that limits their liability.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeroMarineTaxPros.com: Transfer of Tangible Personal Property - Regulation 1595, Part 2 By: Thomas Alston
By transferring ownership of an aircraft from one entity or individual to another, a sales/use tax liability can be created. There are different types of transfers of ownership.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeroMarineTaxPros.com: Misapplying Board Annotations Will Result In A Tax Liability By: Thomas Alston
A recent case demonstrated how taxpayers can be at a disadvantage when it comes to understanding how to legally avoid sales/use tax. The taxpayer purchased his aircraft outside the State of California and intended to support a claim for exemption based on commercial use in his own business.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax
- AeroMarineTaxPros.com: Personal Property Exchanges By: Michael Yesk
The tax deferred exchange offers businesses one of the last great opportunities to build wealth and save taxes. A business can dispose of its personal property, use all of the equity to acquire replacement personal property, defer the capital gain tax that would ordinarily be paid, etc.
Tags: Aircraft sales tax, California aircraft tax, Jet sales tax, Vessel sales tax, aircraft pur
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