CHAPTER 12.2. DEDUCTION FOR AIRCRAFT
IC 6-1.1-12.2
Chapter 12.2. Deduction for Aircraft
IC 6-1.1-12.2-1
Application of chapter
Sec. 1. This chapter applies only to the following:
(1) Aircraft that:
(A) have a seating capacity of not more than ninety (90)
passengers;
(B) are used in the air transportation of passengers or
passengers and property; and
(C) are owned or operated by a person who is:
(i) an air carrier certificated under Federal Air Regulation
Part 121; or
(ii) a scheduled air taxi operator certified under Federal
Air Regulation Part 135.
(2) Aircraft that:
(A) are used to transport only property, regardless of
whether the aircraft is operated as a common carrier for
compensation; and
(B) are owned or operated by a person who is:
(i) an air carrier certificated under Federal Air Regulation
Part 121; or
(ii) a scheduled air taxi operator certified under Federal
Air Regulation Part 135.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-2
"Abatement property"
Sec. 2. As used in this chapter "abatement property" refers to
aircraft described in section 1 of this chapter.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-3
"Aircraft"
Sec. 3. As used in this chapter, "aircraft" has the meaning set forth
in 49 U.S.C. 40102.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-4
"Air transportation"
Sec. 4. As used in this chapter, "air transportation" means
transportation of passengers or property by aircraft as a common
carrier for compensation.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-5
"Business entity"
Sec. 5. As used in this chapter, "business entity" refers to a
corporation (as defined in IC 6-3-1-10) or partnership (as defined in
IC 6-3-1-19).
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-6
"Indiana corporate headquarters"
Sec. 6. As used in this chapter, "Indiana corporate headquarters"
means a physical presence in Indiana of a domestic business entity
that results in Indiana being the regular or principal place of business
of its chief executive, operating, and financial officers.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-7
"Subsidiary"
Sec. 7. As used in this chapter, "subsidiary" means a business
entity in which another business entity with an Indiana corporate
headquarters has at least an eighty percent (80%) ownership interest.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-8
"Taxpayer"
Sec. 8. As used in this chapter, "taxpayer" means a business entity
that:
(1) has an Indiana corporate headquarters; or
(2) is a subsidiary of a business entity with an Indiana corporate
headquarters;
and that is liable under IC 6-1.1-2-4, as applied under IC 6-1.1-3 or
IC 6-1.1-8, for ad valorem property taxes on abatement property.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-9
Deduction
Sec. 9. A taxpayer is entitled to a deduction from the assessed
value of abatement property in each year in which the abatement
property is subject to taxation for ad valorem property taxes.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-10
Deduction amount
Sec. 10. The amount of the deduction is equal to one hundred
percent (100%) of the assessed value of the abatement property.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-11
Deduction includes property taxes
Sec. 11. The deduction includes ad valorem property taxes
calculated using aircraft ground times.
As added by P.L.224-2003, SEC.180.
IC 6-1.1-12.2-12
Qualification for deduction
Sec. 12. To qualify for the deduction, the taxpayer must claim the
deduction, in the manner prescribed by the department of local
government finance, on the taxpayer's personal property tax return
filed under IC 6-1.1-3 or IC 6-1.1-8 (or an amended return filed
within the time allowed under this article) for the abated property to
which the deduction applies.
As added by P.L.224-2003, SEC.180.