FL S0264

Summary of Florida SB 264 — Aircraft Taxes

• Caps the maximum sales and use tax collected on each sale or use of an aircraft in Florida at $18,000, matching the existing cap already in place for boats

• Expands the existing sales and lease tax exemption for aircraft used by common carriers (airlines operating under FAA Part 121 or Part 129) to include aircraft weighing less than 12,500 pounds maximum certified takeoff weight, in addition to those already exempt at more than 15,000 pounds

• Defines "common carrier" as an airline operating under Federal Aviation Administration regulations in Title 14, Chapter I, Part 121 or Part 129 of the Code of Federal Regulations

• Sponsored by Senator Rodriguez with a proposed effective date of July 1, 2024