(1) The sale of a new or used aircraft shall be exempt from taxation under the provisions of part 1 of this article if:
(a) The aircraft is sold to a person who is not a resident of the state;
(b) The aircraft will be removed from the state within the longer of the following periods:
(I) One hundred twenty days after the date of the sale; or
(II) Thirty days after the completion of maintenance, interior refurbishment, paint, or engine work associated with the sale of the aircraft; and
(c) The aircraft will not be in the state more than seventy-three days in any of the three calendar years following the calendar year in which the aircraft is removed from the state pursuant to paragraph (b) of this subsection (1).
(2) A purchaser of an aircraft who claims the exemption allowed by this section shall, at the time of purchase, provide to the seller an affidavit that the purchaser is not a resident of the state and that the purchaser agrees to pay the tax imposed by part 1 of this article if the purchaser fails to comply with the requirements of paragraphs (b) and (c) of subsection (1) of this section.
(3) An aircraft that is hangared or parked overnight shall be considered to be in the state for purposes of this section.
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