Jet Talk

Tax Tips & Traps to Avoid When Buying a Jet
Kali M. Hague | March 18, 2015

Before entering into an aircraft purchase agreement, it’s imperative to understand that sales and use tax requirements are state-specific. Failing to account and plan for sales and use taxes can result in an unexpected tax bill including substantial penalties and interest. Many states are increasingly prone to audit jet aircraft owners, but there are strategies […]

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Personal Flights + Employee Fringe Benefits: Guidelines for Reimbursements
Kali M. Hague | December 17, 2014

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State Taxes on Aviation
Kent S. Jackson | July 31, 2014

Every aircraft owner is potentially liable for a wide variety of state and local taxes: sales and use tax, income or franchise tax, personal property tax and/or registration tax. To make matters worse these tax laws vary from state to state, and can apply in multiple states. The attached article addresses the common problems, general […]

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A Year-End Review of the Fringe Benefit Rules
Kent S. Jackson | January 2, 2014

Where an employee, or a guest of an employee, uses an aircraft for personal transportation, the fringe benefit rules generally require the employer to treat the value of such personal use as additional compensation to the employee. In the case of aircraft, the rules governing the calculation of these amounts are fairly complex and the […]

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Jackson & Wade becomes NBAA’s newest PDP provider
Kent S. Jackson | December 13, 2013

Jackson & Wade, LLC, is NBAA’s newest approved Professional Development Program (PDP) provider. The firm’s course, “Regulatory Compliance and Documentation,” meets NBAA’s PDP Objective Operations 3, which is to “develop the knowledge and understanding to establish a recordkeeping system to document regulatory compliance and initiate appropriate action.” Read more here: http://www.nbaa.org/prodev/pdp/20131213-aviation-law-firm-becomes-newest-professional-development-program-provider.php.

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Sales Smarts: As the aircraft market stirs, buyers and sellers need wisdom
Kent S. Jackson | October 1, 2013

The market adage, “Don’t try to catch the falling knife,” was born of hard experience. But in the used aircraft world, the knife seems to have finally hit the floor, and buyers are gradually emerging from the shadows of recession. There is no doubt that buyers and sellers are wary now, but are they smarter? […]

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