Program Schedule – 2023 NBAA Business Aviation Taxes Seminar

Review the full schedule for the 2023 NBAA Business Aviation Taxes Seminar. All events will take place on the 12th floor of the Ritz-Carlton, Chicago. Registration will be available in the St. Clair Foyer, with the program taking place in the St. Clair Ballroom.
Wednesday, June 7, 2023
5:30-7:30 p.m. |
Networking ReceptionRooftop at Torali (12th floor) – The Ritz-Carlton |
Thursday, June 8, 2023
8 a.m. – 5 p.m. |
RegistrationSt. Clair Foyer – The Ritz-Carlton |
8-9 a.m. |
Continental BreakfastLakeside – The Ritz-Carlton |
9-9:10 a.m. |
Welcome & Introduction |
9:10-10 a.m. |
Overview of the Gray Areas: Tax and FAA Regulatory ComplexitiesLori McGee, Jetstream Aviation Law, P.A. Achieving an FAA-compliant structure and meeting tax goals requires you to carefully thread the needle between requirements that do not perfectly align. In this session the presenters will outline the gray areas between FAA and tax requirements and introduce strategies to address those gray areas.
|
10-10:50 a.m. |
Aircraft Leasing ComplexitiesRobert Davis, FORVIS LLP The seemingly benign aircraft dry lease can bring on a multitude of complexities regarding the FAA and IRS regulations. This session will examine the relevant tax and operational control considerations related to the lessor and lessee, the innocent “sharing” of aircraft combined with reimbursements and the joint use of aircraft by multiple parties. The panel will cover commonly overlooked risks as well as the interaction of the Section 280F “business of leasing” and the Section 274(e)(8) “adequate and full consideration” exceptions. The significance of FAA operational control will also be addressed along with the rules related to the disallowance of lessee expenses when the 25% test is not passed by the lessee.
|
10:50-11:15 a.m. |
Morning Break |
11:15 a.m. – 12 p.m. |
Aircraft Depreciation Gray Areas: 100% Bonus Is Going Away, So Now What?David Shannon, Lewis Brisbois Bisgaard & Smith LLP Effective planning to secure business aircraft tax depreciation deductions requires a detail-oriented approach and analysis when structuring ownership and operations. This panel will provide an opportunity to learn about key structuring and drafting considerations, potential operational pitfalls and recent developments that add more gray areas than clarity.
|
12-1:15 p.m. |
LunchLakeside – The Ritz-Carlton |
1:15-2 p.m. |
Compliance Best Practices for Commuting Deduction DisallowanceSue Folkringa, Aviation CPAs This session will review the law regarding commuting flights and how to apply the law to real life flight scenarios. The panelists will identify company structures and flight patterns that could lead to classification of flights as commuting and demonstrate the resulting tax implications.
|
2-2:45 p.m. |
Why Aircraft Owners May Owe Federal Excise Taxes and Don’t Realize ItRyan DeMoor, MySky This panel will review what payments are subject to Federal Excise Taxes (FET), especially when operations are conducted under the various exceptions in FAR Part 91 that allow for reimbursement. Panelists will also discuss the requirements for the collection of FET on payments for aircraft management services and when charter brokers are involved.
|
2:45-3:10 p.m. |
Afternoon Break |
3:10-4 p.m. |
Regional State Sales and Use Tax Planning for Aircraft OwnersMike Grim, Mountjoy Chilton Medley LLP This session will make clear the importance of considering various states taxes when planning an aircraft transaction or choosing where to base or maintain an aircraft. Panelists will compare the various exemptions available in the region and highlight states that are considering changes to their tax laws.
|
4-4:50 p.m. |
Other Gray Areas That You Should Be Aware of in 2023Katie DeLuca, Harper Meyer This session will provide a general overview of issues affecting both US and non-US operators in connection with operations both within the US and abroad. The panelists will address, among other things, (i) the FAA’s on-going crack down on improper dry leasing and alleged “illegal charter” operations, how these situations are occurring and risk-mitigation strategies operators should consider; (ii) a review of tax recordkeeping requirements for business aircraft; (iii) US sanctions updates for Russia and other volatile regions; (iv) US tax considerations that non-US taxpayers should be aware of when operating business aircraft within the US; and (iv) Canadian tax considerations operators of business aircraft should be aware of when operating aircraft in Canada.
|
4:50-5 p.m. |
Additional Time for Q&A |
Any person who attends an NBAA convention, conference, seminar or other program grants permission to NBAA, its employees and agents (collectively "NBAA") to record his or her visual/audio images, including, but not limited to, photographs, digital images, voices, sound or video recordings, audio clips, or accompanying written descriptions, and, without notifying such person, to use his or her name and such images for any purpose of NBAA, including advertisements for NBAA and its programs.