Aviation Abatements

Aviation Abatements Partial abatements from Personal Property and Sales & Use Taxes are available to aviation companies that locate or expand their business in Nevada. Sales and use tax abatement for up to 10 years on qualified capital equipment purchases, with reductions in the rate to as low as 2%. * Requires the Governor’s Office of Economic Development (GOED) Board to approve a reduction to 2% by a two-thirds vote. An abatement on personal property not to exceed 50% over a maximum of 10 years. Requirements to Qualify ■ Create 5 or more new full-time jobs within one year ■ Pay an average wage of at least 100% of the Statewide Average Wage ■ Indicate on the application the company’s plan to fulfill workforce needs. In addition to the above requirements the company must meet ONE of the following criteria: ■ Make a new capital investment of at least $250,000 within 1 year ■ Maintain and possess in this State tangible personal property of not less than $5,000,000 ■ The business develops, refines or owns a patent or other intellectual property, or has been issued FAA certificate (14 CFR Part 21)