Guidance from the IRS infers if you buy a Jet Card now, you can save the 7.5% Federal Excise Tax for flights next year, maybe
Get ready for a possible flood of email offers from private jet companies. The offer is to buy a jet card now for flights in 2021 and beyond. The goal is to save the 7.5% Federal Excise Tax for those post-New Year’s trips.
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 snap back into effect on Jan. 1, 2021. The tax applies to domestic flights and those that begin or end within 225-miles of the Canadian and Mexican borders.
The Jets Dot Com membership eliminates the 7.5% Federal Excise Tax from its inclusive pricing
Unused hours are refundable
The latest COVID-19 Coronavirus response to last-minute flying needs spurred by the pandemic is from jet card broker Jets.com.
Access to its fixed-rate, guaranteed availability no-fee membership now starts at 10 hours. The program is also refundable for unused hours.
Hourly rates start at $5,188 for a light jet and range up to $10,588 for a large cabin aircraft
December generally means jet card deals, and Jets.com is continuing that approach.
Through the end of the year, Jets.com has reduced both prices and the number of hours customers need to buy.