Partner John Hoover spoke on a National Business Aviation Association (NBAA) webinar discussing a recently proposed rule from the IRS that would implement the aircraft management services provisions of the Tax Cuts and Jobs Act of 2017. This landmark law exempted payments for certain management services from air transportation excise taxes, an exemption for which the business aviation community had long advocated. During this webinar, which was recapped in a News Hour article, participants summarized the background behind this provision, outlined its key details and discussed essential questions about the IRS interpretation of it that need further clarification.
The webinar can be accessed through a link in the article and requires a NBAA login.
READ: News Hour: Excise Tax Exemptions for Management Companies Final Rule Imminent