Tue, Dec 14, 2010
Proposal Would Expand Tax Benefits For Business Investments,
Including Aircraft
NBAA President and CEO Ed Bolen said Monday that the
association welcomes a proposal, announced last week, that would
give U.S. companies tax benefits to help preserve manufacturing
jobs, while allowing companies immediate access to the benefits of
business aircraft.
"NBAA is pleased that the administration and congressional
leaders are considering additional ways in which tax incentives can
be applied to investments in strategic business assets, including
aircraft," Bolen said in a news release.
The tax proposal, first outlined by the White House, would
include allowing businesses 100-percent expensing of investments in
capital assets through December 31, 2011, retroactive from
September 8, 2010, and an accelerated, or "bonus," depreciation
allowance of 50 percent during 2012. A bonus depreciation extension
through the end of 2010 has already been signed into law.
Purchasers of noncommercial aircraft will have an extra year to put
the plane in service and qualify for expensing and bonus
depreciation.
NBAA was briefed on the proposal in a conference call with White
House senior staff to outline the President's overall plan for
taxes and unemployment insurance, which includes several provisions
designed to boost employment and accelerate business investments
through 2012. "We will continue working to underscore the
importance of initiatives like the one outlined by the White House,
which will preserve business aviation manufacturing jobs, while
also giving companies immediate access to the efficiency,
productivity, competitive and other benefits that come with the use
of an aircraft," Bolen said.
NBAA will continue to support the proposal as negotiations
between the White House and congressional leaders take place,
including how the 100-percent expensing provision might be made
available for companies to apply in tax years 2011 and 2012.
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