December 31, 2021
Will a tweet (or is it X) from Elon Musk that could lead to a government shutdown launch another round of FET free jet cards?
In 2020, the CARES Act suspended the Federal Excise Tax on commercial aviation from March 28 to December 31.
If Helen of Troy launched 1,000 ships, the legislation launched more than a dozen tax-free jet card offers.
Jet card sellers had customers depositing seven figures to save the 7.5% tax.
Could an Elon Musk tweet – or is it an X – launch a similar deal for his less wealthy HNW and UHNW cousins?
By the way, no offense about your net worth, but he is the wealthiest person in the world at his current net worth of $441 billion.
Anyway, if you’ve read this far and are hoping to save money, I am sorry you wasted a few minutes.
Vedder Price aviation attorney David Hernandez tells us, “No!”
He says, “The shutdown would merely stop non-essential governmental functions, but not the requirement to pay.”
So, yes, the tax man still cometh.
Of course, given the current state of airlines and airports, there are at least 10 good reasons to fly privately.
And while you may not save tax, the latest jet card deals include a free motorcycle and a lease on a Lamborghini.
Oh, and all of the above doesn’t mean there won’t be tax-free jet card offers if there is a shutdown.
Jets.com ran a FET-free jet card promotion leading up to the presidential election.
“While the presidential candidates are busy debating tax cuts, Jets.com is already delivering savings! Now through Election Day, we’re covering the 7.5% FET tax with the purchase of a 15- or 25-hour Jet Card,” the jet card seller emailed prospects.
READ: How good are those jet card deals?
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