NBAA Welcomes Administration Tax Plan | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.29.24

Airborne-NextGen-04.30.24

Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

Tue, Dec 14, 2010

NBAA Welcomes Administration Tax Plan

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.

FMI: www.nbaa.org

Advertisement

More News

ANN's Daily Aero-Term (05.01.24): Say Altitude

Say Altitude Used by ATC to ascertain an aircraft's specific altitude/flight level. When the aircraft is climbing or descending, the pilot should state the indicated altitude round>[...]

ANN's Daily Aero-Linx (05.01.24)

Aero Linx: European Air Law Association (EALA) EALA was established in 1988 with the aim to promote the study of European air law and to provide an open forum for those with an int>[...]

Classic Aero-TV: Korean War Hero Twice Reborn

From 2023 (YouTube Version): The Life, Death, Life, Death, and Life of a Glorious Warbird In 1981, business-owner Jim Tobul and his father purchased a Chance-Vought F4U Corsair. Mo>[...]

Airborne 04.29.24: EAA B-25 Rides, Textron 2024, G700 Deliveries

Also: USCG Retires MH-65 Dolphins, Irish Aviation Authority, NATCA Warns FAA, Diamond DA42 AD This summer, history enthusiasts will have a unique opportunity to experience World Wa>[...]

Airborne Affordable Flyers 05.02.24: Bobby Bailey, SPRG Report Cards, Skydive!

Also: WACO Kitchen Bails, French SportPlane Mfr to FL, Dynon-Advance Flight Systems, Innovation Preview Bobby Bailey, a bit of a fixture in sport aviation circles for his work with>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC