Charter Operators, A number of Part 135 charter operators have recently received their 2015 public utility property tax assessments from the Washington State Department of Revenue. In some cases these assessment are significantly higher than in prior years. The reason for this increase is that the Washington Department of Revenue is now including Washington Part [...]
The state of Texas enacted legislation (Senate Bill 1396) to dispel confusion surrounding aircraft sales and use tax laws that were leading to contradictory interpretations and in some cases hefty levies. Texas Governor Greg Abbot signed SB 1396 into law on June 16, following state House and Senate passage late last month. Business aviation groups, [...]
South Carolina Governor Nikki Haley has signed a bill into law removing the state's 7-percent sales tax from parts for aircraft operated under Part 91. The change is expected to make South Carolina's aviation maintenance and repair operations (MROs) more competitive with MROs in tax-exempt states. "Because aircraft are mobile, owners can easily shop around [...]
We have reviewed the May 2015 “Tax Avoidance Rules” (WAC 458-20-280 et seq.) adopted by the Washington Department of Revenue in response to the Washington State Legislature’s 2010 Tax Avoidance Legislation (RCW 82.32.655). It is our belief that the Department of Revenue both: a) went beyond the scope of the 2010 Legislation, and b) drafted [...]
Aero Law Group PC’s mission is to provide the highest quality transactional legal services to airlines and aircraft owners and operators – worldwide. There's not another law firm anywhere that has our combined experience with business and commercial aircraft transactions. Aero Law Group PC represents over 500 clients on six continents, including established and emerging commercial [...]
Bellevue CN recently interviewed Aero Law Group attorney John Schmidt about aircraft in China. http://bellevuecn.com/aero-law-group-helping-to-navigate-the-challenges-of-aircraft-acquisition-and-ownership-in-china/
Aero Law Group welcomed a unique visitor to Bellevue, Wash., in late May – the Kyrgyz Republic’s ambassador to the U.S. and Canada, Mr. Muktar Djumaliev. Mr. Djumaliev’s visit comes as the Kyrgyz Republic has announced plans to rapidly develop its civil aviation industry and expand into global markets. According to its Civil Aviation Industry, [...]
Many aircraft manufacturers and brokers are now urging potential customers to sign contracts for or take delivery of newly manufactured aircraft before December 31, 2012, in order to take advantage of additional first-year tax depreciation—popularly known as “50% bonus depreciation.” However, before jumping in and signing a letter of intent or purchase agreement, potential aircraft [...]
On August 1, 2012, the Internal Revenue Service published final regulations on disallowance of deductions for personal entertainment use of business aircraft by so-called “specified individuals.” Click here to download a copy of the final regulations as published in the Federal Register. The final regulations are effective for tax years beginning after August 2, 2012. [...]
On May 3, 2012, major business aircraft manufacturer Hawker Beechcraft Corporation and its parent and affiliated companies (HBC) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York. HBC and its affiliated companies have requested the cases be consolidated under Hawker Beechcraft, Inc. Case No. 12-11873 [...]
