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
(Updated Oct. 23, 2020) 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.
Wheels Up Partners Holdings LLC incorporates Wheels Up, Gama Aviation Signature, Delta Private Jets, TMC Jets, and Avianis
If it’s Friday night, it’s a good time to check the Treasury Department’s website for updates about CARES Act awards. Tonight’s reveal showed on June 10 a payroll support agreement providing $74.2 was executed with Wheels Up Partners Holdings LLC.
While private jet traffic is at 74% of 2019 levels compared to 15% for the airlines, inside the numbers are big differences
The rebound of private jet travel from the depths of the COVID-19 Coronavirus pandemic has been one of the very few bright spots across the travel industry.
While data from the TSA shows passenger levels for the airlines are still off by around 85%, private jet flights have recovered to 74% of 2019 levels, according to WingX.
The grants support studies by future business aviation professionals
Clay Lacy Aviation, which offers a roundtrip pricing, as available jet card program under Clay Lacy Preferred, is continuing to assist the next generation of aviation professionals.