Plain English Breakdown
The official source material does not provide specific details on which types of aircraft and aviation equipment are exempt, nor does it specify the exact impact on state revenue.
Exempting Aircraft and Aviation Equipment from Sales Tax
This law proposes to exempt certain aircraft and aviation equipment purchases from sales tax.
What This Bill Does
- Proposes to remove sales tax for buying specific types of aircraft.
- Proposes to remove sales tax for purchasing aviation equipment that goes with these aircraft.
Terms To Know
- Sales tax
- A tax added to the price of goods and services when you buy them.
- Exemption
- An exception that allows people or businesses not to pay a certain tax on specific items.
Limits and Unknowns
- The bill does not specify which types of aircraft and aviation equipment are exempt.
- It is unclear how this change will affect state revenue.