Private jet management could be shielded through taxes under Senate tax bill

Private-jet owners may benefit through a Republican tax bill before the Senatethat proposes exempting excise taxes on the management fees of private planes.

Currently, a 7.5 percent tax will be levied on each leg of commercial air travel. The bill would certainly ensure in which management costs of private planes, such as maintenance in addition to storage, are not taxed.

The measure’s roots stretch back several years when the Internal Revenue Service determined in which while individuals may own private jets, the owner “relinquished possession” of the aircraft when handing the idea over to the management companies in which provide crew in addition to maintenance, in addition to therefore the services are subject to tax.

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