A purchaser of an
aircraft who will be basing and operating the aircraft for 30 days
or more in Iowa shall provide:
-
the notice of
transfer of ownership;
-
fully completed
aircraft registration application; and
-
five percent use
tax with a copy of a bill of sale, or
-
a letter of
exemption from the Department of Revenue and Finance;
-
proof that
the aircraft was purchased by a licensed aircraft dealer
for resale, rent or lease.
If the aircraft is
currently registered, the fees shall transfer to the purchaser of
the aircraft. The notice of transfer of ownership must be
submitted within 30 days from the date of purchase to avoid a $5
penalty. Any delinquent registration fees and penalties must be
paid at the time of transfer.