Property tax return on airline flight equipment; penalties.

(a) Each airline company operating in this state shall make an annual property tax return of its flight equipment to the commissioner on or before March 1 in each year for the preceding calendar year. Each type and model of flight equipment shall be separately returned, valued, and apportioned as provided in this article.

(b) If an airline company fails to make the return required by subsection (a) of this Code section by the date specified in that subsection, or as extended by the commissioner pursuant to Code Section 48-2-36, the airline company shall pay a penalty of 10 percent of the amount of the taxes for which it may be liable by reason of the return. The penalty imposed by this subsection shall be payable to the state, any county, or any municipality to which the taxes upon which the penalty is based are payable. History. Ga. L. 1972, p. 1129, § 2; Code 1933, § 91A-2302, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1987, p. 977, § 3. RESEARCH REFERENCES C.J.S. 84 C.J.S., Taxation, § 435 et seq. ALR. Situs of aircraft, rolling stock, and vessels for purposes of property taxation, 3 A.L.R.4th 837.