News & Analysis as of

Excise Tax Aircraft

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

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

IRS Set to Publish Final Rule on Federal Excise Tax

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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

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

Cozen O'Connor

CARES Act Suspends Air Transportation Federal Excise Tax

Cozen O'Connor on

As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the 7.5 percent air transportation federal excise tax (FET) that applies to commercial operations, including charter flights conducted under Part...more

Holland & Knight LLP

The Family Office: Planning for Private Aircraft Assets

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• 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

Bradley Arant Boult Cummings LLP

Aircraft Purchase, Ownership and Operation: Protecting the Interests of a Family Business Owner – Part 3

As noted in Part 1 of this series, Federal Aviation Administration (FAA) rules govern the ownership, operation and use of private aircraft. Most private aircraft are operated under Part 91 or Part 135 of the Federal Aviation...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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