Want to know what your aviation state taxes are being used for, how to apply for refunds and other tax details? Then you might want to check out the 2004 State Tax Guide for General Aviation from costing analysts Conklin & de Decker. The guide, which comes on a CD-ROM, also shows how sales and use taxes apply to aircraft sales, ownership, leases, parts, labor, fuel purchases and maintenance.
The “Safety Bucks” program from insurer USAIG (United States Aircraft Insurance Group) has contributed more than $4.3 million over the last nine years to defray the training costs or participants in its Preferred Policyholder Program, according to figures released here at Heli-Expo.
California has amended its aircraft sales and use tax law, essentially closing a loophole that allowed buyers of aircraft and other big-ticket items to escape paying sales taxes.
NBAA, the National Air Transportation Association and General Aviation Manufacturers Association recently urged the Department of Treasury to suspend the changes to jet fuel taxation provisions that were contained in H.R.3, the Highway Bill.
Business aviation lobbyists yesterday applauded recent action taken by Republican lawmakers to shelve new tax rules in the 2005 Highway Bill designed to discourage truckers from using jet fuel to avoid higher taxes on diesel fuel. At the request of NBAA, NATA and GAMA, Sen. Ted Stevens (R-Ark.), Sen. Conrad Burns (R-Mont.) and Rep. Robin Hayes (R-N.C.) sent letters to U.S.
Business aviation groups welcomed a letter from the FAA assistant administrator for aviation policy to the commissioner of the Internal Revenue Service asking him to suspend implementation of new fuel tax rules that would impose a “significant administrative burden” on general aviation businesses and “create financial risk for the Airport and Airways Trust Fund.” The new rules would raise the tax rate on jet fuel to that of costlier highway di
With so many choices available to companies and individuals contemplating alternatives to airline travel, what’s a business owner or prospective flight department manager to do? Speakers at the fourth annual Conklin & de Decker Aircraft Acquisition Planning Seminar, held recently in Scottsdale, Ariz., sought to provide some answers to those questions.
GMAC’s business aircraft finance group of Southfield, Mich., has launched a trial program, initially for three to six months, in which buyers of new or used turbine aircraft can defer loan payments for six months.
The General Aviation Manufacturers Association has launched a campaign to extend the accelerated-depreciation schedule on new capital equipment–including business aircraft–which it calls a “defining factor” in $2 billion in jet sales. GAMA also wants to increase the period of time between the aircraft purchase date and when it has to be placed in service to qualify for the added tax incentive.
Operators flying within, to, from or over the 25-nation European Union (EU) need to check their insurance policies to ensure that they meet the new minimum liability requirements that will take effect on April 30. Failure to do so could result in the prohibition of flights, the withdrawal of operating licenses and, potentially, criminal prosecution.