N.Y. Senate passes tax exemption bill

New York’s state Senate passed legislation (S.3655) sponsored by Sen. Bill Larkin (R-Croton-on-Hudson) to provide a sales and use tax exemption on general aviation airplanes to be operated under Part 91 and purchased in the state. The exemption, if passed by the state’s Assembly and signed by the governor, would go into effect on December 1. “This bill would make New York competitive with other [nearby] states that exempt sales taxes related to aviation activities,” Larkin said.