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Old March 24th 08, 09:51 PM posted to rec.aviation.owning
Robert M. Gary
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Posts: 2,767
Default Aircraft purchase question

On Mar 17, 10:33*am, wrote:
On Mar 16, 6:30*pm, Ron Natalie wrote:


The plane eventually will be under his name but if owner must be a US
citizen then the plane first has to register under my name and then
transfer to him prior leaving the US? But will I liable for NJ sales
tax ?


Then its better to have a dealer purchase the aircraft and hold it for
him. If you transfer it into your name first you'll have to pay sale/
use tax of about 8% to the state. The dealer should be able to help
you with the paperwork to change the N number to your friend's county
(since he cannot legally own an N numbered aircraft). He may need an
airworthiness inspection when he gets it home (a bit like a super
annual to verify type certificate conformaty).

-robert