Sat, Jun 25, 2011
One Sentence In Budget Document Eliminates Levies
The Maine legislature passed a budget this week that eliminates
taxes for aircraft maintenance, the sale of aircraft
and parts, and an onerous "use tax" ... putting the state
on a level playing field for aviation taxes with other northeastern
states.
Maine had a reputation for tracking down airplane owners and
charging them a steep use tax if they brought their planes to the
state for more than 20 days in the first year of ownership for any
purpose other than maintenance. The tax amounted to five percent of
the value of the airplane. It also collected a 5% tax on parts sold
at Maine maintenance facilities, which sent owners to other states
where no tax was collected.
Media sources including the Bangor Daily News report
that a single sentence in the state's 620-page budget document
eliminates those taxes. The Maine government estimates that it will
cost the state a little over $600,000 per year, but independent
studies indicate that other states which have enacted tax
exemptions have seen growth in jobs and other revenue.
Kestrel
And the evidence of that might be nearly immediate. The owner of
Maine Aviation Corp. told the Associated Press that he intends to
begin construction on two new hangars and add 40 people to his
workforce. The exemption is also expected to attract
aviation-related businesses to the recently-closed Brunswick Naval
Air Station, which is now under private management by the Midcoast
Regional Redevelopment Authority. The new Kestrel aircraft company
has already located at the former Navy facility, and they are
hoping for much more.
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