Bill Summary for H 1002 (2021-2022)
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Summary date:
May 19 2022
Bill Information:
| View NCGA Bill Details | 2021 |
AN ACT TO BROADEN THE SALES AND USE TAX EXEMPTION ON AVIATION PARTS AND ACCESSORIES USED FOR THE REPAIR OR MAINTENANCE OF AIRCRAFT AND RELATED SERVICE CONTRACTS TO ALL AIRCRAFT WITH A MAXIMUM TAKE-OFF WEIGHT OF TWO THOUSAND POUNDS AND ABOVE.Intro. by Clemmons, Brockman, Faircloth, Hardister.
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Bill summary
Amends the definition of qualified aircraft in GS 105-164.3 as it applies in Article 5 of GS Chapter 105 (Sales and Use Tax) to include an aircraft with a maximum take-off weight of more than 2,000 pounds (was, maximum take-off weight of more than 9,000 but not exceeding 15,000 pounds). Applies to sales occurring on or after July 1, 2022.