Bill Text: IN HB1413 | 2015 | Regular Session | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Aircraft. Removes the automatic reclassification of an aircraft in an aircraft dealer's inventory from the status of "aircraft inventory" to the status of "property of a nondealer" after 180 days. Provides that an airplane that has total time in service exceeding 50 hours in a year is no longer considered an aircraft in inventory and requires the sales and use sales tax to be paid. Provides that a dealer who has had an aircraft reclassified out of the dealer's aircraft inventory because of the 180 day provision may: (1) elect to return an aircraft to the dealer's aircraft inventory if
Spectrum: Bipartisan Bill
Status: (Passed) 2015-04-30 - Public Law 102 [HB1413 Detail]
Download: Indiana-2015-HB1413-Amended.pdf
Bill Title: Aircraft. Removes the automatic reclassification of an aircraft in an aircraft dealer's inventory from the status of "aircraft inventory" to the status of "property of a nondealer" after 180 days. Provides that an airplane that has total time in service exceeding 50 hours in a year is no longer considered an aircraft in inventory and requires the sales and use sales tax to be paid. Provides that a dealer who has had an aircraft reclassified out of the dealer's aircraft inventory because of the 180 day provision may: (1) elect to return an aircraft to the dealer's aircraft inventory if
Spectrum: Bipartisan Bill
Status: (Passed) 2015-04-30 - Public Law 102 [HB1413 Detail]
Download: Indiana-2015-HB1413-Amended.pdf
