Tax

July 25, 2007 - 5:31am

The tax committee of the NBAA will host two events in conjunction with its 57th annual meeting and convention in Las Vegas in October. The NBAA 13th Annual Tax, Regulatory & Risk Management Conference (previously known as the NBAA Tax Conference) is scheduled for October 10 and 11 at the Las Vegas Hilton.

July 25, 2007 - 4:31am

NBAA, the New York Aviation Management Association and the Aircraft Owners and Pilots Association have lobbied the New York state legislature to review aviation taxing procedures, with an eye toward eliminating the current tax on fuel and services. New legislation has been proposed, known as the New York Senate Aviation Industry Tax Cuts Proposal. The new rule would eliminate the business tax on all jet fuel and 100LL effective next year.

July 23, 2007 - 11:05am

The Senate last week passed the Surface Transportation Reauthorization Act (the “Highway Bill”), which authorizes surface transportation spending through fiscal year 2009. The legislation includes two provisions that could affect business aviation if signed into law, according to NBAA.

May 23, 2007 - 11:08am

Given the bucks or the ability to borrow them, buying a business jet ought to be a straightforward affair. And if you don’t care about the potential downsides, it may be. But the typical business aircraft transaction involves a multinational cast of players and a plethora of contracts to go with them.

April 27, 2007 - 8:39am

The Aircraft Electronics Association (AEA) convention usually offers a sneak preview of the future of general aviation avionics. This year there were plenty of product introductions, but the real news from AEA 2007 unfolded before the show started.

April 19, 2007 - 11:44am

Starting May 1, the Isle of Man–a British Crown Dependency located in the Irish Sea between the UK and Ireland–will have its own aircraft registry, open only to corporate and private aircraft. The UK government recently notified ICAO that it is allowing the Isle of Man to use the previously idle “M” tail number registration that was allocated to the UK in 1919.

April 18, 2007 - 10:49am

A provision in the legislation to reauthorize the nation’s surface transportation programs, known as the Highway Bill, would “drastically alter the way the taxes on jet fuel are collected,” according to the National Air Transportation Association. Under the proposal, jet fuel would be taxed at the same 24.4-cent-per-gallon rate as diesel fuel.

April 9, 2007 - 12:30pm

NBAA and the National Air Transportation Association are creating a joint working group to address the fuel tax provisions of the Highway Bill that was signed by the President earlier this month. “Of particular concern is that taxes on jet fuel will be assessed at the diesel fuel rate [24.4 cents per gallon instead of the 21.9-cent per-gallon jet fuel rate] and deposited into the Highway Trust Fund,” NBAA said.

March 29, 2007 - 6:27am

Effective April 1, the commercial passenger tax on international operations increases from $5 to $5.50 per passenger. Commercial operators, including Part 135
air-taxi operators conducting international passenger operations, are required to collect and remit a commercial passenger user fee to U.S. Customs. 

March 16, 2007 - 9:48am

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.

 
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