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Internal Revenue Service Tax Exemptions Aviation Industry

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Jackson Walker

One Big Beautiful Bill Act Preserves Federal Tax Exemption for Municipal Bonds

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The One Big Beautiful Bill Act (the “OBBBA”) preserves the federal tax exemption for all municipal bonds, including both governmental purpose and qualified private activity bonds, which state and local governments rely on to...more

Holland & Knight LLP

IRS Issues Favorable Tax Regulations on Management Company Exception to FET

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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

Holland & Knight LLP

NBAA, NATA Submit Comments to IRS on Excise Tax Exemption for Business Aircraft Management Services

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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

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