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S.F. No. 1983 - Aircraft tax rate clarification
 
Author: Senator Ann H. Rest
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: March 11, 2014



 

In the 2013 Omnibus Tax Bill, the aircraft in lieu tax was changed from a rate schedule of one percent of value to a graduated schedule.  This bill clarifies the applicable base price amounts for the in lieu tax on aircraft using Minnesota airspace or airports to capture base prices at the threshold amounts.  The base price brackets in current law could be interpreted to exclude base prices at the threshold amounts.  Effective July 1, 2014, for aircraft tax due on or after that date.

 
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