Political economy

June 17, 2014 - 3:15pm

Wayne Rizzi, the owner of 20-year-old air charter broker Air Royale International, pleaded guilty yesterday to “willfully failing to pay over collected Federal Excise Taxes [FET] to the IRS.” The IRS said that from Oct. 1, 2008, through Dec. 31, 2010 Air Royale collected FET from its customers totaling $489,784, but passed on only $29,286 of this amount to the agency.

November 1, 2013 - 8:48am
Illustration © allapen - Fotolia.com

Unless you hang your hat in Delaware or New Hampshire or live in one of the few countries that don’t assess sales tax, you probably hand money to the government almost every time you buy something. In many U.S. states, the levy on purchases runs 5 to 7 percent or more and, with local surtaxes, you can wind up paying as much as 15.5 percent on most purchases.

October 23, 2013 - 6:30pm

NBAA has released an updated version of its Federal Excise Taxes Guide: Details on Air Transportation and Fuel Taxes. Last published in 2005 as the NBAA Federal Excise Tax Handbook, the new guide includes areas that have seen changes–such as the application of FET on fractional aircraft ownership operations; IRS legal interpretations regarding aircraft service and pilot service agreements; and reimbursement under the “Schwab re-interpretation,” based upon the latest information from the IRS, and other sources.

August 4, 2013 - 12:15am

Wisconsin MROs have once again been foiled in their attempt to get the state legislature to exempt private aircraft maintenance and modification from the 5.5-percent state sales tax. While the tax does not apply to aircraft operated under Part 121 or 135 certificates, it does apply to those operating under Part 91.

May 14, 2013 - 3:35pm

Online jet charter broker PrivateFly estimates that approximately half of the estimated £9.3 million in potential revenue from the recent extension of the UK’s air passenger duty (APD) tax to business jets will be lost to nonpayment in the first year. The extended tax, which became effective on April 1, applies to all flights departing from the UK.

May 2, 2013 - 2:57pm

Aircraft operations in Indiana are about to become more affordable after state legislators approved a slate of aviation tax exemptions and restructurings. The measures, adopted at the urging of the Aircraft Owners & Pilots Association (AOPA) and other aviation groups, remove state sales tax on jet fuel and 100LL avgas and restructure the previously existing excise tax on aviation fuel to a fixed total state tax rate.

September 2, 2012 - 3:55am

With the growing complexity of myriad federal, state and local taxes and fees, and the increasing intensity with which they are enforced, there was plenty to discuss at the Commercial Operators Tax (COT) seminar, held September 7 and 8 in Scottsdale, Ariz. Co-sponsored by Conklin & de Decker and the National Air Transportation Association (NATA), the event attracted business aircraft owners, operators and management companies.

November 16, 2011 - 12:45pm
globe with dollar sign

Here we go again. Three years after the bottom dropped out of the economy, and just months after a long, slow and painful climb toward recovery seemed to be producing results, the flooring is starting to feel awfully flimsy again.

October 28, 2011 - 10:33am
Marion Blakey

An economic impact analysis commissioned by the Aerospace Industries Association (AIA) predicts that more than one million jobs will be lost in the aerospace and defense industry, if the U.S. Congress fails to reach an agreement that would prevent automatic government spending cuts.

July 31, 2011 - 10:10am

After four highly successful years Brian Johnson, the man behind the Isle of Man Aircraft Registry and the island’s first Director of Civil Aviation, leaves on August 26 to pursue a new challenge (the Swaziland registry, according to some reports).

 
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