360.653 AIRCRAFT REGISTRATION AND TAX EXEMPTIONS.
The following aircraft, under the conditions specified, shall be exempt from the registration
and the tax provided by sections
(1) Any aircraft held by a dealer listed and used as provided in section
, except that
aircraft held by dealers on October 1, of each year, shall be registered and the entire tax provided
shall be paid for the portion of the fiscal year, prorated on a monthly
basis remaining after the aircraft came into the possession of the dealer. It is further provided that
a dealer who has previously had aircraft on withholding may register such aircraft in September
of each fiscal year by payment of an amount equal to one-third of the annual tax, which tax shall
be applicable for the months of September through December and in January the dealer may again
list these aircraft on the dealer's withholding form.
(2) Aircraft remaining in the possession of aircraft manufacturers ten months after completion
shall become subject to the tax provided by sections
. The tax shall be computed
from the expiration of the ten months period and shall be prorated on a monthly basis.
(3) Aircraft while in the hands of aircraft refitters for the purpose of being refitted or modified
or both, and while being refitted or modified or both.
(4) Aircraft licensed under section
and used exclusively to provide air ambulance
History: 1955 c 113 s 9; 1965 c 161 s 15; 1965 c 429 s 2; 1986 c 444; 1998 c 372 art 1 s 10