California Budget Crisis Prompts Increased Sales Tax Enforcement
Without Careful Planning More Aircraft Purchasers Will Pay Sales Tax that Could Have Been Avoided
SACRAMENTO, CA: California’s budget shortfall is projected at staggering figures, generating a variety of proposals to avoid cutting expenditure. Ideas range from the ridiculous to the sublime, from pornography taxes to borrowing against future lottery income (which would require enticing more Californians to gamble the rent money on Super Lotto or similar games of chance). One thing is certain – there is and will continue to be extreme pressure on the Board of Equalization to collect every penny potentially due in sales tax.
“The purchase of aircraft can be accomplished and sales tax legally avoided, but it will require exact application of a strategy that complies with all the regulations.” said Thomas Alston, President of Aero & Marine Tax Professionals (http://www.aeromarinetaxpros.com). “Any error in strategy or execution of that strategy has a greater likelihood now than ever of resulting in a big tax and penalty bill.”
“For those considering purchases of aircraft, marine vessels or high end vehicles, time may be of the essence. A few members of the California legislature are already at work on changes in the laws that make legal tax avoidance more difficult. And when you think about the influence in Sacramento of those affected by potential spending cuts and the vast amount of money at stake, I would not advise betting on the law remaining exactly as it is today.”
Thomas Alston is the President of Aero & Marine Tax Professionals, the pre-eminent experts in California and Arizona sales tax involving airplanes, vehicles or vessels. The company shows purchasers how to avoid sales tax and to make certain the full value of their next aircraft, vehicle or vessel goes into their pocket–not the Government’s. He has successfully filed hundreds of tax returns with the California State Board of Equalization. Mr. Alston is California’s premier specialist in legitimate tax avoidance on aircraft, vessels and vehicles, having published many articles on sales and use tax.