Concerning a modification to the number of days that an aircraft may remain in the state after it is purchased for purposes of the sales and use tax exemption on the purchase of certain aircraft.
2016 Regular Session
Fiscal Policy & Taxes
One of the criteria to qualify for the sales and use tax exemption on the sale of a new or used aircraft that is purchased in the state is modified. Rather than removing the aircraft from the state within 120 days after the date of the sale, the purchaser of an aircraft is required to remove the aircraft from the state within 120 days after the date of the sale or within 30 days after the completion of certain work on the aircraft that is associated with the sale of the aircraft, whichever is longer.
(Note: This summary applies to this bill as enacted.)