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Tue, Oct 12, 2004

Thank You, Mr. Tax Man

NBAA Cheers Extension Of Bonus Depreciation

The National Business Aviation Association (NBAA) applauds Senate passage of a tax relief bill extending bonus depreciation. In a rare holiday session, today the Senate passed a compromise version of the American Jobs Creation Act of 2004 (HR 4520), by a vote of 69 to 17, clearing the way for the bill to be signed into law by President Bush.

Included in the legislation is a provision that extends for 12 months the placed-in-service requirement for companies purchasing business aircraft to qualify for bonus depreciation. The U.S. House of Representatives passed the measure on Thursday.

"Extension of the placed-in-service requirement is great news for the business aviation community," said NBAA President and CEO Ed Bolen. "This is a strong incentive for companies to purchase new aircraft, and the purchase of a new aircraft is a direct investment in the corporate flight department."

FMI: www.nbaa.org

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