Virginia to Exempt Aviation Parts Beginning July 1, 2018

Sovos
April 21, 2017

On March 29, 2017 the Virginia Governor signed legislation that will exempt the sale of parts and engines used in the maintenance, repair or reconditioning of any manned or unmanned aircraft system. However, as a compromise measure intended to limit the fiscal impact of the new exemption, the rule will not come into effect until July 1, 2018. The scope of the exemption is narrow, in that it only extends to items that become part of the aircraft and would not apply to tools or other repair equipment.

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Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates.
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