2004 Minnesota Statutes

     270.072 Taxation and assessment of flight property. 

    Subdivision 1.    Tax on real estate.  All real 
 property of an airline company and all personal property thereof 
 except flight property shall be taxed as otherwise provided by 
 law. 

    Subd. 2.    Assessment of flight property.  The flight 
 property of all airline companies operating in Minnesota shall 
 be assessed and appraised annually by the commissioner with 
 reference to its value on January 2 of the assessment year in 
 the manner prescribed by sections 270.071 to 270.079.  Aircraft 
 with a gross weight of less than 30,000 pounds and used on 
 intermittent or irregularly timed flights shall be excluded from 
 the provisions of sections 270.071 to 270.079. 

    Subd. 3.    Report by airline company.  Every airline 
 company engaged in air commerce in this state shall file with 
 the commissioner on or before the time fixed by the commissioner 
 a report under oath setting forth specifically the information 
 prescribed by the commissioner to enable the commissioner to 
 make the assessment required in sections 270.071 to 270.079, 
 unless the commissioner determines that the airline company or 
 person should be excluded from filing because its activities do 
 not constitute air commerce as defined herein.  A penalty of 
 five percent of the tax being assessed is imposed on a late 
 filing of the annual report.  If the report is not filed within 
 30 days, an additional penalty of five percent of the assessed 
 tax is imposed for each additional 30 days or fraction of 30 
 days until the return is filed.  The penalty imposed under this 
 section must not exceed the lesser of $25,000 or 25 percent of 
 the assessed tax. 

    Subd. 4.    Extension of time.  The commissioner for 
 good cause may extend for not to exceed 30 days the time for 
 making a report. 

    Subd. 5. Repealed, 2000 c 490 art 5 s 40 

    Subd. 6.    Airflight property tax lien.  The tax 
 imposed under sections 270.071 to 270.079 is a lien on all real 
 and personal property within this state of the airline company 
 in whose name the property is assessed.  For purposes of 
 sections 270.65 and 270.69, the date of assessment for the tax 
 imposed under sections 270.071 to 270.079 is January 2 of each 
 year for the taxes payable in the following year.  

    HIST: 1945 c 418 s 2,3,7,10; 1976 c 334 s 3,4; 1986 c 444; 
 1989 c 277 art 2 s 9,10; 1993 c 375 art 3 s 3; 2000 c 490 art 5 
 s 1,2