Tax Alert: New Bill Provides New York Sales and Use Tax Exemption for General Aviation Aircraft

Summary: New York State Assemblywoman Donna Lupardo (D) has sponsored a bill (A03431), the “New York Aviation Jobs Act,” that provides an exemption from New York sales and use tax on the sale of general aviation aircraft. Although the bill does not define the term “general aviation aircraft,” the intent of the bill appears to be to broaden existing sales and use tax exemptions (as detailed below) to cover substantially all aircraft, including, in particular, corporate jets and private aircraft.