This bill would exempt the gross receipts from the sale of certain aircraft and aircraft parts from state sales and use tax. In addition, this bill would exempt the gross receipts from the leasing or rental of certain aircraft parts from the payment of state lease or rental tax. This bill would also provide for municipalities and counties to exempt these purchases from local sales, use, and rental or lease taxes. This bill would also provide conditions regarding the application of rental or lease taxes to the rental or lease transactions of commercial aircraft. This bill would also make nonsubstantive, technical revisions to update the existing code language to current style.

Statutes affected:
Introduced: 40-12-222, 40-12-223, 40-23-2, 40-23-61, 40-23-2, 40-23-61, 40-12-222