270.072 TAXATION AND ASSESSMENT OF FLIGHT PROPERTY.
    Subdivision 1. Tax on real estate. All real property of an airline company and all personal
property thereof except flight property shall be taxed as otherwise provided by law.
    Subd. 2. Assessment of flight property. The flight property of all airline companies operating
in Minnesota shall be assessed and appraised annually by the commissioner with reference to
its value on January 2 of the assessment year in the manner prescribed by sections 270.071 to
270.079. Aircraft with a gross weight of less than 30,000 pounds and used on intermittent or
irregularly timed flights shall be excluded from the provisions of sections 270.071 to 270.079.
    Subd. 3. Report by airline company. Every airline company engaged in air commerce in
this state shall file with the commissioner on or before the time fixed by the commissioner a report
under oath setting forth specifically the information prescribed by the commissioner to enable
the commissioner to make the assessment required in sections 270.071 to 270.079, unless the
commissioner determines that the airline company or person should be excluded from filing
because its activities do not constitute air commerce as defined herein. A penalty of five percent
of the tax being assessed is imposed on a late filing of the annual report. If the report is not filed
within 30 days, an additional penalty of five percent of the assessed tax is imposed for each
additional 30 days or fraction of 30 days until the return is filed. The penalty imposed under this
section must not exceed the lesser of $25,000 or 25 percent of the assessed tax.
    Subd. 4. Extension of time. The commissioner for good cause may extend for not to exceed
30 days the time for making a report.
    Subd. 5.[Repealed, 2000 c 490 art 5 s 40]
    Subd. 6. Airflight property tax lien. The tax imposed under sections 270.071 to 270.079 is
a lien on all real and personal property within this state of the airline company in whose name
the property is assessed. For purposes of sections 270C.62 and 270C.63, the date of assessment
for the tax imposed under sections 270.071 to 270.079 is January 2 of each year for the taxes
payable in the following year.
History: 1945 c 418 s 2,3,7,10; 1976 c 334 s 3,4; 1986 c 444; 1989 c 277 art 2 s 9,10; 1993
c 375 art 3 s 3; 2000 c 490 art 5 s 1,2; 2005 c 151 art 2 s 17