4th Quarter Journal 2013 - (Page 50)

By Nel Stubbs Conklin & De Decker State Tax Changes for 2013 E very year, states make changes to their tax laws and many of these tax changes affect general aviation aircraft. Staying on top of these changes can be very challenging. What follows are some of the changes for 2013. ARIZONA - Effective June 1, 2013, the state transaction privilege tax and use tax decreased from 6.6% to 5.6%. ARKANSAS - Effective July 1, 2013, the state sales and use tax increased from 6% to 6.5%. The half-cent rate increase will be collected for approximately 10 years and will terminate when there are no bonds outstanding to which tax collections have been pledged. CALIFORNIA - Effective January 1, 2013, the state sales and use tax rate increased from 7.25% to 7.5%, until 2016. COLORADO - On May 13, 2013, Governor Hickenlooper signed HB1080, to extend an existing $1,200/employee tax credit that can be taken by aircraft manufacturing companies that hire new workers, to companies that repair planes and those that refurnish them. 50 FLORIDA - January 1, 2013 - Parts and labor service use on fixed-wing aircraft that weigh 2,000 pounds or more will be exempt from the state sales and use tax. ■■ Effective May 20, 2013, rotary-wing aircraft that weigh more than 2,000 pounds are now exempt from the tax on repair and maintenance, same as fixed-wing. ■■ GEORGIA - The exemption from the state sales and use tax imposed on the sale of engines, parts, equipment and other tangible parts used in the maintenance of non-resident aircraft has been extended to June 30, 2015. IDAHO - Effective July 1, 2013, the aircraft registration fees increased from $0.01 per pound to $0.03 per pound, not to exceed $600 per year (up from $200). Aviation Business Journal | 4th Quarter 2013

Table of Contents for the Digital Edition of 4th Quarter Journal 2013

President's Message
From the Ground Up
Navigating Through healthcare Reform
2013 International Update
Veterans Airlift command: they've got heart; they need wings
FAA Chief Counsel Interpretations
Free is a Very Good Price
Marketing Strategies for Driving Share of Wallet
State Tax Changes for 2013
A Beginner's Guide to Rulemaking
Advertiser's Index

4th Quarter Journal 2013