Aircraft Assessment and TaxationLevy

Section § 5391

Explanation

This law states that starting from the 1980-81 fiscal year, aircrafts are to be taxed just like other personal property. However, if an aircraft is classified as a business inventory, it qualifies for an inventory exemption, meaning it won't be taxed like other personal property.

For the 1980–81 fiscal year and each fiscal year thereafter, aircraft subject to this part shall be taxed at the same rate and in the same manner as all other personal property. Aircraft which are considered business inventories, within the meaning of Section 129 of the Revenue and Taxation Code, shall be included in the inventory exemption.
aircraft taxation personal property tax business inventory exemption ...

Section § 5392

Explanation

This law states that taxes on aircraft are collected just like taxes on any other personal property.

The tax on aircraft subject to this part shall be collected in the same manner as all other personal property.
aircraft tax personal property tax tax collection ...