Business aviation groups are concerned about a proposed Illinois state tax on business aviation that would inaccurately classify business aircraft as luxury items and impose a five percent “luxury” tax on aircraft valued at more than $500,000.
The new tax would be levied in addition to existing state and local use taxes and would drive business aviation operations and jobs out of Illinois, according to The National Business Aviation Association, which stated on March 24 that it opposes the tax and strongly encourages Illinois-based members to contact their state representatives in opposition “this onerous legislation.”
For information: [email protected] or http://www.nbaa.org/member/admin/taxes/state/il/illinoisluxurytax.php
