Sec. 163.007. AIRCRAFT OPERATED UNDER FRACTIONAL OWNERSHIP PROGRAMS. No tax is imposed under Chapter 151 with respect to the purchase, sale, or use of an aircraft that is operated pursuant to 14 C.F.R. Part 91, Subpart K.
Added by Acts 2015, 84th Leg., R.S., Ch. 631 (S.B. 1396), Sec. 1, eff. September 1, 2015.
Structure Texas Statutes
Subtitle E - Sales, Excise, and Use Taxes
Chapter 163 - Sales and Use Taxation of Aircraft
Section 163.001. Certificated or Licensed Carriers
Section 163.002. Resale of Aircraft
Section 163.003. Use of Aircraft
Section 163.004. No Presumption of Use
Section 163.005. No Imposition of Tax Following Out-of-State Use
Section 163.006. Certain Transactions Between Related Persons
Section 163.007. Aircraft Operated Under Fractional Ownership Programs