Bill > A03085

This bill modifies New York state tax law to remove certain sales and use tax exemptions for noncommercial aircraft and change how taxes are calculated and applied to aircraft transactions. Specifically, the legislation adds noncommercial aircraft with less than 20 passengers and under 6,000 pounds to the category of leased property subject to sales tax, removes a previous tax exemption for general aviation aircraft, and adjusts how sales tax is calculated when aircraft are transferred between corporations. The bill requires sales tax to be computed based on the purchase price or current market value of the aircraft, allows tax credits for previously paid sales or use taxes, and provides a mechanism for refunds or credits when aircraft are transferred. The changes aim to standardize tax treatment of aircraft transactions and eliminate previous exemptions, with the new provisions set to take effect on June 1, 2025. The bill uses technical language to amend existing tax law sections, primarily focusing on how sales and compensating use taxes are applied to aircraft leases and transfers.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A3085