FET Tax Holiday Archives

A top executive from the National Business Aviation Association says don’t expect the Federal Excise Tax holiday to be extended

Congressional leaders in Washington D.C. are still trying to work out additional relief for companies and individuals impacted by the COVID-19 pandemic. Don’t expect an extension of the holiday for the 7.5% Federal Excise Tax (FET).

Continue reading “FET tax holiday extension for private jet flights unlikely”

Jet card broker Magellan Jets is promoting tax-free private jet flights after the CARES Act tax holiday expires at the end of 2020.

Jet card broker Magellan Jets is wading into what could be a hot topic for the rest of the year.

Can you save the 7.5% Federal Excise Tax on jet card charter flights in 2021 if you buy before the end of the year? As part of the CARES Act, the collection of the tax is suspended through Dec. 31, 2020. Unless new legislation is put into place, it will go back into effect on Jan. 1, 2021.

Continue reading “Magellan Jets offers FET-free jet cards for 2021 and beyond”