Revenue Publishes Informational Bulletin on Exemption for Aircraft Being Repaired or Remanufactured

SUBJECT: Sales and Use Tax Exemption for Aircraft Being Repaired or Remanufactured

DIGEST OF CHANGES: Extends the exemption to completion work on an aircraft and exempts materials, parts, equipment, and engines installed on a foreign aircraft weighing more than 5,000 pounds and that is equipped with a turboprop or turbojet engine.

INTRODUCTION

P.L. 211-2007 was passed by the Indiana General Assembly effective July 1, 2007, to provide a sales and use tax exemption for aircraft brought into Indiana to be repaired, refurbished, or remanufactured or for a prepurchase evaluation. Effective January 1, 2009, the exemption applies to aircraft brought to Indiana for completion work.

See the bulletin here:

http://www.in.gov/legislative/iac/20120530-IR-045120254NRA.xml.html