Blog : Archives
April 12th, 2012
Posted by: admin
Filled in: Uncategorized
Wisely choosing not to further pressure private aviation businesses, the Maryland legislature defeated a measure that would have imposed a 1-percent luxury surtax on aircraft costing $36,000.00 or more, plus 2 percent of amounts above $90,000. This was a wise decision (as in other close-call states) on the Eastern Seaboard given the proximity to Maryland of [...]
March 28th, 2012
Posted by: admin
Filled in: Aviation News,Other Tax
The IRS has recently issued guidance that concluded that payments for common services that aircraft management companies provide, such as pilots, maintenance services and logistics, can be subject to excise tax as payments for “transportation services” under the Internal Revenue Code. This is a departure from long-standing prior practice, which limited excise tax to true [...]
November 14th, 2011
Posted by: admin
Filled in: Aircraft Business,Aircraft Income Tax Rules,Aircraft Sales Tax,Legal Resources
As the holidays approach our thoughts become preoccupied with but one thing: how can I purchase an aircraft and write off 100% of the cost basis in the first year? Well, perhaps not for everyone, but here’s what you need to know: if you purchase an aircraft and place it in service by December 31, [...]
September 15th, 2011
Posted by: admin
Filled in: Aircraft Business,Aviation News
Chase Equipment Finance analyzes supply and pricing trends in the business jet market. This article provides September data about the corporate jet market and what's new in the general aviation market.
August 31st, 2011
Posted by: admin
Filled in: Aircraft Income Tax Rules
Aircraft Personal Use: SIFL Rates For The Second Half Of 2011
August 18th, 2011
Posted by: admin
Filled in: Aviation News
Forbes published an incisive article about how The President’s criticism of corporate jet owners (of which the United States Government is a big one) is affecting jobs in this industry, one of America’s last major manufacturing enterprises.
August 1st, 2011
Posted by: admin
Filled in: Other Tax
IRS Tax Audits Against Lawyers and Business Professionals
July 25th, 2011
Posted by: admin
Filled in: Aircraft Sales Tax,New Legislation,Other Tax
The Truth About The Dreaded "Corporate Jet Loophole"
June 27th, 2011
Posted by: admin
Filled in: Other Tax
Effective July 1, Maine, traditionally among the more agressive states when it came to pursuing even temporary visitors for use tax, no longer charges sales or use tax on aircraft, their parts or services. The change resulted in several aviation businesses quickly announcing plans to expand their facilities. Notwithstanding the loss of tax revenues the [...]
March 8th, 2011
Posted by: admin
Filled in: Other Tax
Connecticut Governor Dannel P. Malloy wants to close the state deficit by ending tax exemptions on repairs and services to aircraft, and by adding a yearly registration fee to planes stored in the state. This is problematic for general aviation, and for Connecticut for that matter, for several reasons. First, Connecticut exempts the purchase and [...]
