Is the sale of a personal airplane taxable?
Is the sale of a personal airplane taxable? What is Taxable? All aircraft sold, delivered, used, or stored in Florida are subject to Florida's sales and use tax, plus any applicable discretionary sales surtax, unless exempt.
What is the tax deduction for a small plane?
Bonus depreciation is an incentive to accelerate depreciation deduction when a business aircraft is purchased. In 2022, 100 percent of the purchase price of an aircraft can be depreciated in the year of acquisition. This applies to new or used aircraft.