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I just bought a plane a month ago here in NC. First, after reading your text, it seems as if the sales tax exemption is for rental, not purchase, of an aircraft as a student at an FAA approved school.
My plane sold for more than your list price, and my tax, all NC states sales tax was $1,500. NC caps aircraft sales tax at $1,500, as do many states. Local property tax is another issue.
In NC, the buyer only has to pay the tax if they buy it through a dealer or broker (a business that sells aircraft), but not required if buying from an individual or business that only on occasion sells aircraft.
I know this is NC and won't help much for Texas, but try searching Google, for the Texas Department of Revenue, then "aircraft sales" under the Texas DOR website.
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