News & Analysis as of

Business Taxes Aviation Industry

Shook, Hardy & Bacon L.L.P.

Understanding the “Flight Department Company” Problem

Owning an aircraft can save company executives time and add prestige to brands. But companies should carefully review the tax consequences, which can be substantial depending on how the aircraft agreement is organized. One...more

Miller Canfield

Leaving on a Jet Plane: Increased IRS Scrutiny on Use of Corporate Aircraft

Miller Canfield on

On February 21, 2024, the IRS announced plans to increase funding under the Inflation Reduction Act to audit the use of corporate aircraft by large corporations, partnerships, and high-income individuals....more

Vedder Price

Business Considerations: CARES Act Corporate Governance, Compensation and Employee-Related Obligations

Vedder Price on

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act or CARES Act (the “Act”). Subtitle A of Title IV of the Act, the “Coronavirus Economic Stabilization Act of 2020, creates...more

Jackson Walker

Aircraft Transaction Basics - A Business Development Opportunity

Jackson Walker on

This paper will describe the basics of aircraft transactions, including aircraft sale, purchase and ownership issues and how current aviation practitioners can expand their practice area to include aircraft transactions, pull...more

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