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IRS Says Aircraft Leasing Entity is Eligible for 1031 Tax Free Exchange Treatment Despite Leasing to Related Companies at No Profit
  • Greenberg Traurig LLP
  • USA
  • January 29 2016

A new IRS Chief Counsel memo says that an aircraft leasing partnership that trades in an aircraft that is leased to a related entity is eligible for

Texas aircraft leasing - leaving on a jet plane (without sales tax?)
  • Greenberg Traurig LLP
  • USA
  • December 4 2015

Buying a plane is not only expensive, but states usually want a cut by charging a sales tax or use tax on top of the purchase, increasing the upfront

IRS requests comments on exclusion of airline mileage awards not redeemed for transportation
  • Steptoe & Johnson LLP
  • USA
  • October 29 2015

Notice 2015-76 invites public comment on whether the IRS should prescribe rules to exclude from the tax imposed by Section 4261(a) certain amounts

New York exempts general aviation aircraft from sales and use tax
  • Kaye Scholer LLP
  • USA
  • September 3 2015

Effective September 1, 2015, a new law (N.Y. Tax Law 1115(a)(21-a)) provides an exemption from New York state and local sales and use tax for sales

IRS grounding independent airline carriers with excise tax assessments
  • Berger Singerman LLP
  • USA
  • August 21 2015

For several years the IRS has aggressively targeted small airline companies with investigations and audits for unpaid excise taxes. Multi-million

Favorable New York guidance on sales and use tax exemption for noncommercial aircraft
  • McDermott Will & Emery
  • USA
  • July 28 2015

On July 24, 2015, the New York Department of Taxation and Finance published guidance on the sales and use tax exemption for "general aviation

Important changes to Texas sales taxation of aircraft
  • Baker Botts LLP
  • USA
  • June 30 2015

On June 16th, Governor Abbott signed SB 1396, which significantly impacts the Texas sales and use tax taxation of certain aircraft transactions. SB

Online health care, consumer data, cybersecurity risks, accounting fraud, patents Expect Focus Vol. II, Spring 2015
  • Carlton Fields Jorden Burt PA
  • Global, USA
  • June 17 2015

Large-scale data breaches have become increasingly common, bringing with them not only bad press and loss of customer goodwill

No Missouri use tax due when aircraft is purchased for immediate lease to a Missouri common carrier
  • Spencer Fane LLP
  • USA
  • March 3 2015

In its recent ruling in Five Delta Alpha, LLC v. Director of Revenue, the Missouri Supreme Court has ruled that an aircraft transfer is exempt from

New bill provides New York sales and use tax exemption for general aviation aircraft
  • Kaye Scholer LLP
  • USA
  • February 10 2015

New York State Assemblywoman Donna Lupardo (D) has sponsored a bill (A03431), the "New York Aviation JOBS Act," that provides an exemption from New