The COVID-19 Coronavirus assistance legislation eliminates the 7.5% FET between March 28, 2020, and year’s end
What are the best strategies for Jet Card flying during the FET holiday
Updated April 6, 2020 @7:16pm
One point of the 880-page CARES Act is a waiver of the 7.5% Federal Excise Tax (FET). The holiday lasts between March 28 and December 31, 2020. It’s normally levied for domestic Part 135 flights, which includes domestic jet card trips. It was also applied to U.S. flights that start or end within 200 miles of the southern and northern borders.
You might naturally assume that you won’t pay FET for flights during the rest of the year. You would be wrong. It depends on your program. So, how does this impact you?