For Sale Wisconsin sales tax on aircraft

[ScottinIowa]

Anybody here that's purchased an airplane that was registered in WI and planned on keeping it in WI? I read a section of the tax code that you'd be exempt from sales tax if this was the case. True or no?

 

[netsurfr]

I don't believe that's correct. Exemptions in WI are if purchased from spouse, parent, child; if you're a non-taxed entity, if done via a broker as part of a sell & buy transaction, or if you paid tax to a different state already (must prove you paid more tax than what WI tax would be).

Here's a link to the WI aircraft registration form...

https://wisconsindot.gov/Documents/formdocs/dt1556.pdf

 

[ScottinIowa]

I don't believe that's correct. Exemptions in WI are if purchased from spouse, parent, child; if you're a non-taxed entity, if done via a broker as part of a sell & buy transaction, or if you paid tax to a different state already (must prove you paid more tax than what WI tax would be).

Here's a link to the WI aircraft registration form...

https://wisconsindot.gov/Documents/formdocs/dt1556.pdf

I believe you're right. I saw this, "The occasional sale of an aircraft in Wisconsin is taxable unless one of the following applies: 1. The transfer is to the spouse, parent, stepparent, father-in-law, mother-in-law, child, stepchild, son-in-law, or daughter-in-law of the transferor; the aircraft was previously registered or titled in Wisconsin in the transferor's name, if required to be registered or titled; and the transferor is not engaged in the business of selling aircraft." I think you have to meet all of those. At first glance I thought you just had to me one of them.

 

[netsurfr]

Yup. Unfortunately!

 

[flyingcheesehead]

Yup. They're gonna get ya, one way or another. At least we only have to pay sales tax once, and not pay property tax on airplanes like the poor saps in Texas!

 

[SCCutler]

Yup. They're gonna get ya, one way or another. At least we only have to pay sales tax once, and not pay property tax on airplanes like the poor saps in Texas!

Which "poor saps in Texas" pay property tax on airplanes?

 

[flyingcheesehead]

Which "poor saps in Texas" pay property tax on airplanes?

Maybe I misunderstood, but I thought I had heard at least Jay, and I thought maybe you too, complaining about it. Maybe it was another state?

 

[SCCutler]

Maybe I misunderstood, but I thought I had heard at least Jay, and I thought maybe you too, complaining about it. Maybe it was another state?

Our property taxes on real estate are... robust... but there are none on aircraft, per se.

If an airplane is a business asset, it would be taxed as "BPP" (Business Personal Property), but individually-owned aircraft are not taxed.

Yet. Don't give 'em ideas!