January 28, 2024
Dumont Aviation Group is the latest jet card provider to add a FET-free jet card deposit option, head of marketing Joe Martin tells Private Jet Card Comparisons.
Its jet cards start at 25-hours, and in addition to light, midsize, super-midsize, and large cabin options, Dumont offers a dedicated Dassault Falcon 2000 option at $9,000 per hour.
Like others, so long as you buy the card before the end of the year, your funds will enable you to save the 7.5% tax for the card’s validity or until funds run out.
You can read our updated list of jet card sellers offering FET-free options here.
The CARES Act suspended the collection of the 7.5% FET to boost the aviation industry. The taxable event is when a flight is booked and paid for, not the flight’s date. However, the IRS has no official position on jet cards. You can read our full analysis of the IRS’s non-binding internal memo from 2015 that seems to be guiding jet card providers here.
If you are looking into a FET-program, read this article to make sure jumping in doesn’t cost you more than you will save.
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