AN ACT TO BROADEN THE SALES AND USE TAX EXEMPTION FOR PARTS AND ACCESSORIES USED IN THE REPAIR OR MAINTENANCE OF AIRCRAFT WITH A MAXIMUM TAKE-OFF WEIGHT OF TWO THOUSAND POUNDS AND ABOVE.
House committee substitute adds the following to the 1st edition.
Removes from the list of repair, maintenance, and installation services and service contracts exempt from sales and use tax under GS 105-164.13(61a), those for an aircraft with a gross take-off weight of more than 2,000 pounds, as such aircrafts are now included in the defined term qualified aircraft in GS 105-164.3, as amended by the act, which are exempt from sales and use tax by the same subdivision. Applies to sales occurring on or after July 1, 2022.
Changes the act's long title.