SB 958 Summary

• Adds a new sales and use tax exemption for aircraft sold or delivered in Missouri to non-residents who do not base the aircraft in the state and remove it within ten business days of title transfer or return to service.

• Exemption applies to new or used aircraft sold to bona fide non-residents under 14 CFR 91.407 standards for maintenance, repairs, and alterations completed contemporaneously with the title transfer.

• Establishes that any state ruling, agreement, or contract exempting a person from collecting sales and use tax despite owning or operating a warehouse, distribution center, or fulfillment center in Missouri is void unless approved by majority vote of both houses of the legislature.

• Defines "affiliated person" as any member of the same controlled group of corporations under Internal Revenue Code Section 1563(a) or any entity bearing the same ownership relationship to the vendor.