News & Analysis as of

Tax Exemptions Aviation Industry

Jackson Walker

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

Jackson Walker on

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

Holland & Knight LLP on

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

Holland & Knight LLP on

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

Franczek P.C.

Illinois Supreme Court Finds Special Exemption Unconstitutional

Franczek P.C. on

Last Thursday the Illinois Supreme Court struck down a special property tax exemption for a single aeronautical services company operating out of the Quad City International Airport. As noted in the July 2015 FR Alert...more

Franczek P.C.

Illinois Court Finds Special Property Tax Exemption Unconstitutional

Franczek P.C. on

A property tax exemption designed to benefit a single aviation company was recently found unconstitutional by the Illinois Appellate Court. The exemption was only for fixed base operators (FBOs) providing aeronautical...more

5 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide