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Senate bill includes tax break on private jets
http://thehill.com/blogs/blog-briefing-room/360785-senate-tax-bill-includes-tax-break-for-private-jetsThe latest version of the Senate Republican tax reform bill includes a break for companies that manage private jets.
A measure in the Tax Cuts and Jobs Act would lower taxes on some of the payments made by owners of private aircraft to management companies that help maintain, store and staff those planes for owners.
The language would exempt owners or leasers of private aircraft from paying taxes on certain costs related to the upkeep and maintenance of the jets, according to a description from the Joint Committee on Taxation.
"Applicable services include support activities related to the aircraft itself, such as its storage, maintenance, and fueling, and those related to its operation, such as the hiring and training of pilots and crew, as well as administrative services such as scheduling, flight planning, weather forecasting, obtaining insurance, and establishing and complying with safety standards," it says.
The bill ensures that private jets under management companies that handle storage and upkeep do not pay the same ticketing taxes as commercial airline flight ...........
A measure in the Tax Cuts and Jobs Act would lower taxes on some of the payments made by owners of private aircraft to management companies that help maintain, store and staff those planes for owners.
The language would exempt owners or leasers of private aircraft from paying taxes on certain costs related to the upkeep and maintenance of the jets, according to a description from the Joint Committee on Taxation.
"Applicable services include support activities related to the aircraft itself, such as its storage, maintenance, and fueling, and those related to its operation, such as the hiring and training of pilots and crew, as well as administrative services such as scheduling, flight planning, weather forecasting, obtaining insurance, and establishing and complying with safety standards," it says.
The bill ensures that private jets under management companies that handle storage and upkeep do not pay the same ticketing taxes as commercial airline flight ...........
6 replies
= new reply since forum marked as read
= new reply since forum marked as read
We were so afraid we were going to have to sell ours. 
