AerCap Holdings N.V. (AER) welcomes the enactment of new Mississippi taxation legislation. House Bill 1855 introduces an exemption from sales tax for the lease or other retail transfers of fixed-wing aircraft and engines, accessories and spare parts for such fixed wing aircraft.
The new legislation was enacted on April 25, 2024, and the bill was ceremonially signed into law by the Governor of Mississippi, Tate Reeves, in a special ceremony held at the Walter Sillers State Office Building in Jackson, Mississippi on July 8, 2024.
"The introduction of this legislation is a game-changer for commercial aircraft leasing and sales in Mississippi and aligns sales tax law with the majority of other states that already offer similar exemptions," said Aimee Craig, the CEO of AerCap Materials. "The new legislation will allow AerCap to better service our customers by improving efficiency of dismantling and offering more competitive pricing. Moreover, it supports our ESG strategy by recycling parts from older technology aircraft and extending their useful life."
"This follows two years of significant collaboration between AerCap and the Greenwood-Leflore-Carroll Economic Development Foundation who were instrumental in helping us drive this change. We would like to thank Governor Reeves, House Representatives and Senators, and the Mississippi Department of Revenue who supported the bill," Craig concluded.