The National Business Aviation Association (“NBAA”) held its annual Business Aviation Convention and Exhibition in Las Vegas, Nevada in October. The event was preceded by the 2024 Tax, Regulatory & Risk Management Conference, a two-day event, which had more than 300 attendees (a record). Many attendees were eager to hear details on the status of [...]
The National Business Aviation Association (“NBAA”) held its annual Business Aviation Convention and Exhibition in Las Vegas, Nevada in October. The event was preceded by the 2024 Tax, Regulatory & Risk Management Conference, a two-day event, which had more than 300 attendees (a record). One particular topic weighed heavily on the minds of the conference [...]
On September 2, 2024, the U.S. Department of Justice announced that it had seized a Dassault Falcon 900EX business jet in the Dominican Republic, that allegedly was owned and operated for the benefit of President Maduro of the county of Venezuela. Citing the Executive Order signed in 2015 by President Obama, which blocked assets and [...]
If you spend enough time in the aviation industry in nearly any capacity, from being a pilot, mechanic, or flight attendant, to running an airline, management company, flight department or airport, contact with the FAA is nearly inevitable. Most of these interactions are routine, however, on occasion, members of the industry may find themselves, their [...]
The National Business Aviation Association held its annual one-day tax seminar in Dallas, Texas, in mid-May. The program schedule included panels on FAA regulations, various tax issues, personal use of business aircraft, depreciation, and sustainable aviation fuel. This year’s event had two additional segments – “Carriage of Political Candidates” and “Corporate Transparency Act [CTA] Impact [...]
Major federal and state elections are happening in 2024—and candidates for public office will need to travel to campaign, raise funds and deliver stump speeches. Accordingly, owners and operators of private aircraft might be asked to carry political candidates or their campaign staff. Paying for a candidate’s flight raises competing compliance issues among federal and [...]
In a recent news release, the IRS announced plans to begin “dozens” of audits on aircraft use by large corporations and high-income taxpayers to determine whether expenses for private aircraft are being properly allocated between business and personal use. “Personal use of corporate jets and other aircraft by executives and others have tax implications, and [...]
Safety is paramount with the FAA and it is the primary issue that the FAA scrutinizes with respect to Part 91 and 135 operators. Owner/operators are in position – and arguably have an obligation – to set the tone when it comes to operational safety. The entity chosen to manage the aircraft, whether for charter [...]
Hundreds of articles have been written about dry leases and their potential pitfalls with respect to operational control and FAA regulatory compliance, but are dry leases of aircraft truly always bad? Since this article is written by a lawyer, the answer is, of course, “it depends”. Obviously, dry leases that are thinly veiled attempts to [...]
To register an aircraft (or maintain registration of an aircraft already registered) in the United States (i.e., N-registration), the aircraft must be either (1) owned by a “citizen of the United States,” (2) owned by an individual citizen of a foreign country who has been lawfully admitted for permanent residence in the United States, (3) [...]
