Check out the services we provide at https://lookupaviation.com
There are several cost that comes with aircraft ownership. After you’ve made the initial purchase, then you have to account for insurance, maintenance, and hangar fees. An important cost to think about is the taxes on that aircraft. Like any other item, anytime you buy or sell something on the books in the US, this is a taxable event. The same goes for airplanes or helicopter.
When you purchase an aircraft, you are liable for the sales tax on that sale. Particularly what’s called a Sales and use tax. Depending on your location, type and cost of aircraft your tax liability can be more or less.
It is important that you educate yourself first and account for these expenses as part of your aircraft research. For example your tax liability on an experimental aircraft will be different from a finished built or certified aircraft as it was in my case.
GIPHY App Key not set. Please check settings