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What is the sales tax on aircraft in Oklahoma?

Excise Tax is 3 1/4% of purchase price.

Do you pay tax when you buy an airplane?

Sales tax is a type of consumption tax that the seller is responsible for collecting and delivering to the government. This tax also applies to the lease or purchase of property such as aircraft. Sales tax applies in the state where the lease or sale transaction occurs.

What is the tax rate on aircraft?

In July 2024, the Government of India announced a uniform Goods and Service Tax (GST) rate of 5% (from a 5%-28% range) on all aircraft and aircraft engine parts, bringing Indias MRO industry closer to global MRO best practices.

What is the aerospace tax credit in Oklahoma?

A $5,000 credit is allowed to a qualified employee who, on or after January 1, 2009, is employed in Oklahoma by or contracting in Oklahoma with a qualified employer whose principal business activity is in the aerospace sector. The credit is allowed each year for up to the first five years.

What is the aircraft tax in Oklahoma?

Several states (Alaska, Connecticut, Delaware, Massachusetts, Montana, New Hampshire, Oregon and Rhode Island) have basically no sales tax on business jet sales. I say basically because even in these states laws may have little quirks that result in tax on some aircraft transactions.