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2007 SESSION

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SB 1172 Retail Sales and Use Tax; exemptions include certain aircraft.

Introduced by: Kenneth W. Stolle | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Aircraft sales and use tax; deferral/exemption. Provides an exemption from the aircraft sales and use tax for aircraft that are (i) considered Warbirds, manufactured and intended for military use, excluding those manufactured after 1954, and (ii) used only for (a) exhibit or display to the general public and otherwise used for educational purposes (including such flights as are necessary for testing, maintaining, or preparing such aircraft for safe operation), or (b) airshow and flight demonstrations (including such flights necessary for testing, maintaining, or preparing such aircraft for safe operation).

SUMMARY AS PASSED SENATE:

Aircraft sales and use tax; deferral/exemption. Provides a deferral for 10 years from the aircraft sales and use tax for aircraft that, at the time of the otherwise taxable sale or use are (i) considered Warbirds, manufactured and intended for military use, excluding those manufactured after 1954, and (ii) used only for (a) exhibit or display to the general public and otherwise used for educational purposes (including such flights as are necessary for testing, maintaining, or preparing such aircraft for safe operation), or (b) airshow and flight demonstrations (including such flights necessary for testing, maintaining, or preparing such aircraft for safe operation).  After the ten-year period of use has passed, any tax liability of the owner shall become exempt.  However, if the Director of the Department of Aviation determines that such an aircraft was used for commercial purposes or for purposes other than as provided above during the ten-year period, the owner shall be liable for the deferred taxes plus interest.

SUMMARY AS INTRODUCED:

Aircraft sales and use tax. Provides an exemption from the aircraft sales and use tax for any aircraft that, at the time of the otherwise taxable sale or use is at least 50 years old, and is used only for (i) exhibit or display to the general public or (ii) air show and flight demonstrations.