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Transportation Business Organization Tax

Read need-to-know updates, commentary, and analysis on Transportation issues written by leading professionals.

Aircraft Sales and Proposed Tax Legislation: The Tax Cuts and Jobs Act Eliminates Like-Kind Aircraft Exchange

by Lane Powell PC on

On November 16, 2017, the House of Representatives narrowly passed the Tax Cuts and Jobs Act. This bill would be a major overhaul of the current tax regime, making significant changes. The Senate is considering its own tax...more

Sale of Fractional Aircraft Shares Not Taxable Under New York Law

by Benesch on

New York’s Department of Taxation and Finance recently released an Advisory Opinion concluding that the sale of fractional aircraft shares are not taxable under state law. New York tax law imposes sales and use tax on retail...more

FERC Seeking Comment on Recovery of Income Tax Costs by Jurisdictional Natural Gas and Oil Pipelines and Electric Utilities

The Federal Energy Regulatory Commission (FERC or the “Commission”) announced in December that it is opening a new inquiry and seeking comments regarding its current policies with respect to the recovery of income tax costs...more

When the Internal Revenue Code and the FAA Regulations Collide - What Results?

by Sanford Millar on

The Federal Aviation Administration (FAA) categorizes aircraft owners and operators into different categories. In general, the FAA grants an owner of an aircraft who operates the aircraft for personal use and enjoyment a...more

If Time is Money Should Business People Use Private Jets?

by Sanford Millar on

The long check-in lines, irritating fees, complex routing and lack of confidentiality in conversations has motivated many businesses to use private jets for their executives. One of the issues in acquiring, or chartering a...more

Proposed Change to North Carolina Excise Tax Law for Wine Shippers

by Williams Mullen on

Wine Shipper permittees may soon be able to file excise tax reports on an annual basis in North Carolina, rather than monthly. A proposed bill that would allow wine shippers to file excise tax reports annually is...more

Mexico 2016 Tax Reform

by White & Case LLP on

The 2016 Tax Bill presented by the President to Congress on September 8, 2015 was approved almost in its original terms by both Chambers of Congress on October 29, 2015 and published in the Official Gazette of the Federation...more

Tax Policy Update

by McGuireWoods LLP on

The number of days until the U.S. House of Representatives returns from August recess. The Senate is in this week to tackle procedural motions for legislation related to cybersecurity and Planned Parenthood. The Senate is...more

Tax Policy Update

by McGuireWoods LLP on

The number of additional months of funding for transportation projects under a $8 billion bill introduced late last night in the House. Notably — as anyone on Sesame Street could tell you — the number 5 is not the same as the...more

Tax Policy Update

by McGuireWoods LLP on

NUMBER OF THE WEEK: 40 percent. The average combined federal and state tax rate paid by most U.S.-based firms, according to a Wall Street Journal op-ed by James Freeman today, entitled “The Tax Takeover Craze.” Freeman claims...more

Tax Policy Update

by McGuireWoods LLP on

NUMBER OF THE WEEK: 15. The number of minutes it should take most Americans to do their taxes, according to potential GOP presidential candidate Chris Christie in a Wall Street Journal op-ed published last night. ...more

New Rules on MLPs & Qualifying Income: What Oil Services and Exploration Companies Need to Know

by Stoel Rives LLP on

On Tuesday, May 5, 2015, the Internal Revenue Service (“IRS”) released proposed regulations defining qualifying income for Master Limited Partnerships (“MLPs”). MLPs are publicly traded partnerships that are taxed as a...more

[Webinar] Meritas Capability - Avoiding Common Mistakes Companies Make When Operating Business Aircraft, May 19, 1:00-2:00 CST

Business aircraft operations are highly regulated by several government agencies. Structuring the ownership and operation of business aircraft in compliance with this regulatory environment is difficult and requires...more

Focus - Spring 2013

by Burns & Levinson LLP on

In This Issue: - IRS Audits: Understanding Criminal Rights and Risks - Amazing Clients®: Ravago: A Big Company with a Low Profile - When is a Mom not a Mom?: De Facto Parenting in Massachusetts - Can the...more

IRS to Extend 7.5 Percent Federal Excise Tax to Cover Business Aircraft Operations -- Tax Significantly Impacts Business Aircraft...

by Lane Powell PC on

If your aircraft is managed by a third party (or potentially by a related entity), or if your company manages aircraft, the IRS’s recent guidance expanding the applicability of federal excise tax will significantly impact...more

Aircraft Due Diligence in Mergers, Acquisitions and Reoganizations; Protecting against Contingent and Unknown Liabilities

by Gary Horowitz on

Discussion of aircraft due diligence considerations affecting corporate mergers, acquisitions, and reoganizations....more

The New Rules for Personal Use of Business Aircraft: What You Need to Know and Do

by Gary Horowitz on

Discussion of Treasury Regulations disallowing tax deductions relating to the personal, entertainment use of business aircraft....more

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