SB 5359-S - DIGEST

(DIGEST AS ENACTED)

     Clarifies the exemption from sales and use taxation of the materials used by small companies in the design and development of aircraft parts, auxiliary equipment, and aircraft modification.

     Declares that the exemption does not apply in respect to the use of tangible personal property by any person whose total taxable amount during the immediately preceding calendar year exceeds twenty million dollars.

     Declares that state and local taxes for which an exemption is received under this act and RCW 82.08.02566 shall not exceed one hundred thousand dollars for any person during any calendar year.