Bill > A09053

This bill relates to the imposition of sales and compensating use taxes on certain aircraft. It repeals the existing tax exemption for general aviation aircraft, and machinery or equipment to be installed on such aircraft. Specifically, the bill amends the tax law to subject leases of noncommercial aircraft with less than 20 passenger seats and a maximum capacity of less than 6,000 pounds to the same tax treatment as leases of motor vehicles and vessels. It also requires the sales tax to be computed based on the seller's purchase price, unless the seller owned the aircraft for at least 6 months prior to the transfer, in which case the tax is based on the current market value. The bill also allows purchasers of such aircraft to receive a refund or credit for any sales or use tax paid by the seller.