My plane is in a nevada based LLC. You can do it all yourself and save some money or you can pay someone to handhold you through the paperwork. That is what I do. They continually nag you to make sure you do everything you need to each year.
This is who I use:
I have been using them for probably 7-8 years now. A side bonus is if the plane is not based in California you don't have to pay the luxury tax. Typically the county assesors use records from the airports and visual inspections to determine which planes are in their state. If by chance you had another much cheaper aircraft (say an ultralight) as the airplane on record
where you rent/own your hangar, who is to say that your turbine is in fact based in California. You of course have to figure out specifically what the rules are for the aircraft being based in California vs. it being here in a transient situation. Perhaps having a tiedown in Las Vegas for your Turbine will meet the requirement at a much lower monthly cost vs. luxury tax.
Matt
From: Denis Conkey <dconkey@conksite.com>
To: lml@lancaironline.net
Sent: Thursday, August 29, 2013 1:27 PM
Subject: [LML] LLC for Insurance
It appears I may have to create an LLC in another state in order to obtain insurance for our California based Turbine. The only Company (Meadowbrook) that will insure the plane does not have authorization for CA.
Anyone on the list have experience doing this? The pitfalls and best way to go about doing this? Looking at Nevada for the LLC.
BTW, we just had our first starts of the engine this weekend. It went well. Link below.
http://www.youtube.com/watch?v=ppsSJB0kvXwThanks,
Denis
N750PJ
Sent from my iPad
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