Governor signs bill expanding tax exemption to GA aircraft
Oklahoma Governor Brad Henry recently signed a bill that extends to general aviation aircraft an exemption from the sales tax on aircraft repairs and modifications. Previously, the exemption applied only to aircraft weighing more than 9,000 pounds gross takeoff weight and less than 300,000 pounds gross takeoff weight. In a letter to Governor Henry urging him to sign the bill, AOPA President Phil Boyer wrote that, "These lighter planes are greater in number than all other aircraft, and this new pool of customers would increase significantly the amount of repair business conducted in Oklahoma. [W]ith more customers, aviation businesses will be able to provide many highly skilled, well-paying jobs, generating broad tax and social benefits statewide." The new law becomes effective July 1.
June 15, 2005