AerCap Welcomes Mississippi’s New Aviation Sales Tax Exemption | kbnmart

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AerCap Holdings NV, also known as AerCap or the Company, has expressed its approval of Mississippi’s recent passage of House Bill 1855. This new law provides a sales tax exemption on leases or retail sales of fixed-wing aircraft, including their engines, accessories and parts.

The bill was officially signed into law by Mississippi Governor Tate Reeves during a formal ceremony at the Walter Sellers State House Building in Jackson, Mississippi, on July 8, 2024, after being passed on April 25, 2024. Notable figures in attendance at the signing included House Speaker Jason White; Jim Neal, Chairman of the Carroll County Board of Supervisors; Cindy Long, Site Operations Manager for AerCap Materials; Senator Lydia Chassaniol; Representative Carl Oliver; Amy Craig, CEO of AerCap Materials; Allen Burgess, CFO of AerCap Materials; Thomas Gregory, Executive Director of the Greenwood-Leflore-Carroll Economic Development Corporation; and Wilton Neal, retired Carroll County Tax Assessor.

“The introduction of this legislation represents a fundamental change for commercial aircraft leasing and sales in Mississippi, and is consistent with the sales tax laws of most other states that already provide similar exemptions,” said Amy Craig, CEO of AerCap Materials. “The new legislation will allow AerCap to better serve our customers by improving dismantling efficiencies and offering more competitive pricing. Additionally, it supports our environmental, social and governance strategy by recycling parts from older technology aircraft and extending their useful lives.”

“This comes after two years of significant collaboration between AerCap and the Greenwood-Leflore-Carroll Economic Development Corporation, which was instrumental in helping us advance this change,” concluded Ms. Craig. “We would like to thank Governor Reeves, the members of the House and Senate, and the Mississippi Department of Revenue who supported the bill.”