Section 5391 Of Chapter 4. Levy From California Revenue And Taxation Code >> Division 1. >> Part 10. >> Chapter 4.

. For the 1980-81 fiscal year and each fiscal year thereafter, aircraft subject to this part shall be taxed at the same rate and in the same manner as all other personal property. Aircraft which are considered business inventories, within the meaning of Section 129 of the Revenue and Taxation Code, shall be included in the inventory exemption.