Thu, Jul 08, 2004
Now THAT'S Tax Relief
Rhode Island Governor Donald
Carcieri made it official Monday -- the repeal of aircraft sales
and use taxes. The repeal, effective January 1, 2005, exempts the
sale, storage, use or other consumption of new or used aircraft and
aircraft parts from taxation. Labor charges continue to be exempt
where labor charges are separately stated by the seller.
Signing of the legislation concludes more than one year of work
by a coalition of general aviation organizations, led by National
Business Aviation Association (NBAA) Regional Representative Dean
Saucier and NBAA Tax Committee member Ed Kammerer of Edwards &
Angell, LLP. The coalition included NBAA, the Rhode Island Aviation
Association, AOPA, the Rhode Island Pilots Association and several
local pilots' organizations.
This tax repeal
legislation became a priority in Rhode Island as a result of a
series of ambiguous legal rulings that allowed the aircraft sales
and use tax to be applied to non-resident companies. Neighboring
states Connecticut and Massachusetts also exempt aircraft from
sales and use taxes.
"Aircraft operations require significant support from ground
services and personnel, thus creating substantial economic benefit
to the states and localities," said Mike Nichols, NBAA manager, tax
& finance issues. "Rhode Island will now be on par with its
neighboring states providing equitable tax treatment of aircraft.
We expect this will translate into additional jobs for the
residents of Rhode Island."
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