Florida Introduces New Form to Report Sales and Use Tax on Aircraft The Florida Department of Revenue (FL DOR) has updated its reporting form on the sale and use of aircraft in Florida. Form DR-15AIR (Sales and Use Tax Return for Aircraft) replaces Form DR-42A...
The Internal Revenue Service (IRS) is suspending tax assessments applied to aircraft management companies during federal exercise tax (FET) audits while it develops additional guidance for auditing aircraft management operations. The suspension is the result of...
SIFL rates are important numbers used to calculate the taxable income you receive when taking a personal flight on employer provided aircraft as a fringe benefit. The U.S. Department of Transportation recently released new SIFL rates for the 1st half of 2013 and...
Florida Aircraft Repair Maintenance Exemption: As a friendly reminder to aircraft owners (and snowbirds) nationwide, be advised that Florida wisely modified the “repair and maintenance” exemption this past June to apply to smaller, in fact most, planes,...
Enter The Drones – fSo from the looks of it it’s not so much a question of if, but rather when, private and commercial pilots will be sharing the American skies with unmanned aerial vehicles (UAVs), more commonly known as drones. The FAA has at least as...
Owning an aircraft is a major investment. Even before you buy one, you need to spend countless hours preparing, training, financial planning, and making proper space arrangements in anticipation of becoming an owner. This is why the idea of keeping it safe and in good...
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