Washington State Repeals 10% Luxury Aircraft Tax but KBFI Active Registrations Drop 17.9% — NetJets/Flexjet Grow Against the Trend While Independent Aircraft Count Shrinks From 716 to 588; Millionaire Tax May Accelerate HNW Outmigration

Washington State repealed the 10% aircraft sales tax on April 1, 2026 (replaced by a fuel tax + $0.07/gal), but KBFI Q1 2026 business jet movements totaled 8,800 (YoY −2.3%), with active registrations plunging from 716 to 588 (−17.9%). Top operators grew against the trend: NetJets +6.5% (1,450 → 1,544 movements), Flexjet +15.3% (496 → 572), but Life Flight Network crashed −64.5%. The fact that active aircraft count fell sharply while total movements declined only mildly indicates significantly higher market concentration — a smaller number of high-frequency operators are taking larger share. Tax repeal theoretically benefits aircraft-registration repatriation, but the 9.9% millionaire income tax (effective 2028) may form counter-pressure; reports already indicate billionaires considering relocating. Short-term registration repatriation effect has not yet materialized. Confidence ★★★.