Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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A

105.0000 AIRCRAFT OF HISTORICAL SIGNIFICANCE EXEMPTION

Annotation 105.0035

105.0035 Commercial Purpose. The term "commercial purpose" includes the conveyance of passengers or goods for any business reason or use of an aircraft for any revenue-producing activity. Also, either depreciation of an aircraft as business property or deduction of expenses of an aircraft as business expenses or both are indicia that an aircraft is used for commercial purposes. LTA 12/20/2002 (No. 2002/090).