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22 Jan 2024

At the top of the list of the Hanscom High Flyers is a private jet registered to an LLC in the names Bronwen Carroll and John Ryan Carroll. [...] The bank refers to itself as an “industry leader” in providing aircraft trustee services.28 Indeed, the Bank of Utah serves as trustee for more than 2,000 aircraft listed in the FAA registry — making the regional bank the largest registered owner of private aircraft in the country.29 Clearly, the Bank of Utah has carved a niche for itself in the wealth management world in the form of aircraft owne. [...] Because the jet is in trust with the Bank of Utah serving as the trustee, the aircraft’s owner, according to the FAA registry, is simply the Bank of Utah. [...] According to the Massachusetts’ governor’s office, this sales tax exemption will cost the state $26.7 million in fiscal year 2024.45 Because of the creative ways that the “wealth defense industry” and the wealthy collude to avoid taxation, the web of LLC, trust, and corporation ownership of private jets can be intentionally 22 complex and confusing. [...] The data set included, but was not limited to, the following: aircraft registration; the ICAO and IATA codes for origin and destination airports; the names of origin and destination airports; the names of origin and destination cities and countries; date and time of takeoff and landing; the length of flight time; and aircraft service type.
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United States of America