[hharney]

I am partnering with another person on a used aircraft that we just purchased. We are trying to decide how to register the aircraft. Personally as partners or forming an LLC. I have talked with a lawyer about forming an LLC. I know this is done out there and I have even seen some skymasters registered as owned by an LLC. The lawyer seems very knowlegable about this scenerio but is also talking about avoiding the sales tax. The leasees (myself and my partner) would pay sales tax only on the monthly or hourly payments that we deem acceptable for use of the aircraft. Sounds good but I don't think I want to hassle with the paperwork each month to make sure the payments are made and the tax is paid. If we just set up an LLC for the benefit of protection if something happened to the other partner would this make sense? To form the LLC that is. How much should it typically cost to set this up? Anyone been through this before?