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The only sure things in this life are death and…

November 19, 2010

Yup, taxes.  I’m not sure if I’ve been mentally blocking the idea or what, but the idea of taxes for this whim has only just recently crept into my mind.  The State of Arkansas has an aviation sales and use tax, but I’ll be darned if I can find any meaningful information on it for home builders.  I’ve surfed VAF and cant find anything specific for Arkansas.  There is an EAA meeting this weekend, I thought I’d ask around there and see what the general consensus is.  One thing I have learned is that you should absolutely not ignore it.  By all accounts the tax man will find you and if he has to come looking for you, he’ll likely have some big ‘ol penalties for you to pay.

According to the crowd on VAF most states find out that you have a plane when you register it with the FAA.  The FAA seems to have a process in place to notify state treasury officials when a plane is registered with them.  Of course, what the states do with that information seems to differ depending on the state.  Some states simply send you a bill.  Other states send paperwork that must be filled out before a bill is generated.  Then there are other state (Arkansas is one I fear) that the state bills you on the sales tax and then the county/city bills you on personal property every year after that.  We will see, one way or another.

From → Preparation

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