A years-long advocacy campaign by NBAA and its partners culminated recently with a final rule from the IRS clarifying the applicability of federal excise taxes to management companies and aircraft owners. The rule also prevents the improper and retroactive application of FET charges. “We worked with the IRS and the Treasury Department, then we finally went to Capitol Hill,” said Scott O’Brien, NBAA senior director for government affairs. “Congress spoke and made clear that if you are flying on your own aircraft, and have the assistance of a management company, there’s no commercial transportation tax; it’s treated just like any non-commercial Part 91 flight.”
In today’s episode of NBAA’s “Flight Plan,” host Rob Finfrock speaks with:
John Hoover, partner at Holland and Knight and chair of the NBAA Tax Committee
Scott O’Brien, NBAA senior director, government affairs
Since 1998, NBAA’s regional representatives have provided a vital link between the association and local and regional business aviation stakeholders on matters affecting the industry. Recently, NBAA rebranded their role as regional directors to better reflect how their jobs have evolved.
Changing weather patterns are affecting aviation, and among the greatest resulting risks to air safety is clear air turbulence (CAT). A study by scientist Dr. Paul Williams has led him to predict that severe CAT will increase in the future.
The outlook for business aviation hiring remains strong, despite a number of challenges weighing on the global economy. However, job seekers must carefully consider multiple factors when making their employment decision.
NBAA has released a comprehensive update to its Personal Use of Business Aircraft Handbook, which provides valuable tax and regulatory compliance strategies when a company makes an aircraft available for non-business use.