Title 48, Chapter 5, Section 543
( 48-5-543)
The valuation of aircraft apportioned to this state shall be, for
each type and model of aircraft, that portion of the total valuation
of each type or model of aircraft as the ratio of plane hours in
this state bears to the total system plane hours for each type and
model of aircraft. The valuation thus established shall be
apportioned for each type and model of aircraft among the tax
jurisdictions in this state through which the aircraft company
operates. The apportionment among the tax jurisdictions in this
state shall be based as nearly as practicable upon plane hours. | 
