About the author
Mark A. Loyd
Mark is a member of the firm’s State and Local Tax Team and is a member of the firm’s Tax and Finance Practice Group. His areas of practice concentration are state, local and federal tax controversy resolution, litigation and planning.
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Indiana Department of Revenue Challenges Aircraft Sales Tax
With a sales and use tax rate of 7 percent in Indiana, the potential tax savings or cost of a purchase of tangible personal property can be significant, particularly in the case of an acquisition of corporate aircraft, which often cost millions of dollars. The Indiana Department of Revenue recently upheld an assessment of aircraft license tax, use tax, interest and penalties on an aircraft in a Letter of Finding (LOF). The taxpayer at issue in the LOF…