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2011 SESSION
SB 1188 Aircraft sales and use tax; exemption for qualified companies headquartered in Virginia.
Introduced by: Thomas K. Norment, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Aircraft sales and use tax; exemptions. Creates an exemption from the aircraft sales and use tax for qualified companies that are headquartered in Virginia, make a minimum of a $4 million capital investment in Virginia, create at least 50 new jobs in Virginia, and enter into a memorandum of agreement with the Virginia Economic Development Partnership. The bill also creates an exemption from the aircraft sales and use tax for aircraft that are purchased in Virginia but are registered outside of the Commonwealth and removed from the Commonwealth within 60 days of purchase.
SUMMARY AS INTRODUCED:
Aircraft sales and use tax; exemptions. Creates an exemption from the aircraft sales and use tax for qualified companies that are headquartered in Virginia, make a minimum of a $4 million capital investment in Virginia, create at least 50 new jobs in Virginia, and enter into a memorandum of agreement with the Virginia Economic Development Partnership. The bill also creates an exemption from the aircraft sales and use tax for aircraft that are purchased in Virginia, but are registered outside of the Commonwealth and removed from the Commonwealth within 60 days of purchase.