Over the past few years, the Internal Revenue Service (IRS) has worked to issue final regulations that provide guidance to aircraft management companies and aircraft owners regarding their federal excise tax (FET)...more
The Internal Revenue Service (IRS) is expected soon to publish its final rule on federal excise tax (FET) exemption for aircraft management companies and owners. The IRS pre-published final rules incorporate several...more
The National Business Aviation Association (NBAA) joined with the National Air Transportation Association (NATA) to submit to the Internal Revenue Service (IRS) and the U.S. Department of the Treasury on Sept. 29, 2020,...more
The Internal Revenue Service (IRS) has released a series of frequently asked questions (FAQs) regarding the federal excise tax (FET) holiday for commercial aviation operations created by the Coronavirus Aid, Relief, and...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) suspended federal excise taxes (FET) for commercial aviation operations until Dec. 31, 2020. A National Business Aviation Association (NBAA) article, "What...more
• Family offices are increasingly involved in structuring and managing the ownership or use of private aircrafts for business and personal travel.
• The optimal structure will vary depending on a number of factors,...more
3/14/2019
/ Aircraft ,
Aircraft Equipment ,
Aviation Industry ,
Excise Tax ,
Family Offices ,
Federal Aviation Administration (FAA) ,
Personal Property ,
Property Tax ,
State and Local Government ,
Succession Planning ,
Tax Liability ,
Tax Planning ,
Timeshare Arrangement