Exchange Facilitator Does Not Beat Missouri Use Tax On Learjet

The Like-kind exchange is a powerful tax deferral tool.  The Code Section that supports it - 1031 - is one of the few Code sections, like 501(c)(3) and 401(k), that have worked their way into the vocabulary of people other than tax geeks. Although the like-kind exchange is used heavily in real estate, there are other applications since 1031 applies to most property used in a trade or business or held for the production of income.  One example is corporate jets.  Even if they don't appreciate,...