50-11-35. Application of original registration tax to leased aircraft.
For aircraft leased for thirty-six calendar months or less, the original registration tax of four percent, as required under §50-11-19, applies only to the scheduled lease payments, excluding fuel, routine maintenance, insurance, and crew, and shall be paid by the lessee at the time payments are made to the lessor. For aircraft leased for more than thirty-six calendar months, by multiple short-term agreements or a long-term agreement, the original registration tax under §50-11-19 shall be assessed on the market value of the aircraft at the time registration is due as stated in the aircraft bluebook and price digest. The original registration tax shall be paid by the owner of the aircraft. A copy of the lease agreement shall be provided to the department with the application for registration. If the lessee purchases the aircraft during the lease, any amount paid to the department for registration taxes under this chapter shall be credited to taxes required under §50-11-19. The annual registration fee required under §§50-11-12 and 50-11-14 applies for each aircraft under lease.
Source: SL 1993, ch 348, §14; SL 2019, ch 203, §43.
Structure South Dakota Codified Laws
Chapter 11 - Registration And Licensing Of Aircraft And Pilots
Section 50-11-5 - Posting of aircraft registration certificate--Decal--Violation as misdemeanor.
Section 50-11-11 - Expiration of registration.
Section 50-11-12 - Schedule of registration fees--Nonpayment as misdemeanor.
Section 50-11-14 - Fees--Aircraft more than ten years old.
Section 50-11-15 - Fees--Part-year registration.
Section 50-11-16 - Payment of delinquent fees and taxes prerequisite to registration.
Section 50-11-17 - Fees--Minimum registration fee.
Section 50-11-19.1 - Purchase price defined.
Section 50-11-19.4 - Transfer of amount of credit to aeronautics fund.
Section 50-11-20 - Aircraft to which additional tax applies--Exceptions and exemptions.
Section 50-11-21 - Promulgation of rules--Additional registration tax--Aeronautics fund.
Section 50-11-21.1 - Jeopardy assessment of additional tax--Lien--Distress warrant--Bond.
Section 50-11-21.2 - Lien for tax or penalty.
Section 50-11-25 - Exceptions to state registration requirements--Government aircraft.
Section 50-11-26 - Exceptions to state registration requirements--Military aircraft.
Section 50-11-28 - Exceptions to state registration requirements--Interstate or foreign commerce.
Section 50-11-33 - Certificate of registration--Permits--Alteration or forgery--Violation as felony.
Section 50-11-35 - Application of original registration tax to leased aircraft.