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Monday, 11 January, 2021

IRS Finalizes Rules for Aircraft Management Tax Exemption

January 11, 2021

Today, the IRS announced finalized regulations intended to clarify how the exemption from commercial transportation excise taxes for aircraft management services is applied. NATA is reviewing the regulations and will provide detailed analysis to the membership. In late September 2020, NATA joined with the National Business Aviation Association in submitting comments on the notice of proposed rulemaking (NPRM).

“We are pleased that the IRS seemed to listen to and adopt many of our recommended changes to the rules. We look forward to participating in future projects to provide additional guidance referenced by the IRS,” stated NATA Senior Vice President Ryan Waguespack.

Providers of aircraft management services are encouraged to review the pre-publication version of the final rules. The regulations are planned to take effect as soon as they are scheduled for publication in the Federal Register, likely before the end of this week.

For general press inquiries, contact Shannon Chambers at 703-298-1347 or schambers@nata.aero.

The National Air Transportation Association (NATA) has been the voice of aviation business for more than 80 years. Representing nearly 3,700 aviation businesses, NATA’s member companies provide a broad range of services to general aviation, the airlines and the military and NATA serves as the public policy group representing the interests of aviation businesses before Congress and the federal agencies.