Bill
Bill > S02556
NY S02556
NY S02556Relates to the imposition of sales and compensating use taxes with respect to certain aircraft; repeals provisions relating to the exemption from sales and compensating use taxes of general aviation aircraft, and machinery or equipment to be installed on such aircraft.
summary
Introduced
01/23/2023
01/23/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to the imposition of sales and compensating use taxes with respect to certain aircraft; and to repeal paragraph 21-a of subdivision (a) of section 1115 of the tax law, relating thereto
AI Summary
This bill amends the tax law to impose sales and compensating use taxes on certain noncommercial aircraft with a seating capacity of less than 20 passengers and a maximum capacity of less than 6,000 pounds. The bill also repeals the existing exemption from these taxes for general aviation aircraft and related machinery or equipment. Additionally, the bill provides rules for calculating the tax due on transfers, distributions, or contributions of such aircraft. The bill is set to take effect on June 1, 2023.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
REFERRED TO BUDGET AND REVENUE (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S2556 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S02556&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S02556 |
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