Official Code of Georgia Annotated

Title 48. REVENUE AND TAXATION · Chapter 5. AD VALOREM TAXATION OF PROPERTY · Article 10. AD VALOREM TAXATION OF MOTOR VEHICLES, MOBILE HOMES, CERTAIN EQUIPMENT, AND CERTAIN INVENTORY · Part 6. AIRCRAFT HELD IN DEALER’S INVENTORY

48-5-504.20. Exemption for aircraft owned by a dealer and held in inventory for sale or resale.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
As used in this Code section, the term:#
1. (1)
  “Aircraft” means any vehicle which is self-propelled and which is capable of flight.#
2. (2)
  “Dealer” means any person who is engaged in the business of selling aircraft at retail.#
(b)
Aircraft which is owned by a dealer and held in inventory for sale or resale shall constitute a separate classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning aircraft for ad valorem taxation, determining the application rates for taxation, and collecting the ad valorem taxes imposed on aircraft do not apply to aircraft which is owned by a dealer and held in inventory for sale or resale. Such aircraft which is owned by a dealer and held in inventory for sale or resale shall not be returned for ad valorem taxation and shall not be taxed; and no taxes shall be collected on such aircraft until it is transferred and then otherwise, if at all, becomes subject to taxation as provided in this chapter.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 48-5-504.20, enacted by Ga. L. 2005, p. 1221, § 1/HB 211; Ga. L. 2006, p. 72, § 48/SB 465.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t48-ch1-6-(v36)-2024-pdf.pdf, Volume V36, 2024 edition, pages 851 to 852; merge action: carried; file SHA-256 bb15f8d0d693.

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