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I know this is an old thread but I still think it's valuable. There are also some comments that don't necessarily tell the whole story: - If you are a multi-member LLC, then you need to do a partnership tax return (1065 + K1's). - Your LLC may not enjoy all the liability protection people...

The fee is based on the state where you organize. Montana is $35/year which is why a lot of people organize their aircraft LLC's there. The tax return is easy but ya, you hire someone to do that. We pay for a Quickbook subscription and I keep track of all the bookkeeping (which is simple). This...

For most people, owning the plane in a corporation is a pain and makes life more complicated for no reason. You'd elect to be taxed as an S-Corp (unless you have some underlying reason to be a C-Corp) and then at that point, you should have just be an LLC.

Some people will scoff at aircraft LLC's for liability reasons. However, it makes administering the aircraft with partners way easier. 1. Tax Advantages. Here in California, depending on County, you may have to pay over 9% in sales tax on the purchase. If you're buying a plane in an LLC, you...

I wanted to add a reply to this old thread because there's some info that's not necessarily true -- having gone through this with an LLC a few times now. 1. Everyone in your LLC has to qualify for the loan separately. You'll all be named on the loan but the bank looks at each member...