Wed, Feb 08, 2012
Letter Sent To Encourage Legislature To Not Let The Provision
The NBAA has joined more than 60 businesses and organizations
nationwide in signing a letter urging congress to extend "bonus"
depreciation, allowing for accelerated cost recovery of strategic
purchases, including business aircraft. Bonus depreciation included
in legislation signed into law in 2010 fell from 100 percent to 50
percent this year.
"Bonus depreciation – which is simply a timing change
allowing taxpayers a benefit now rather than later – draws
broad, bipartisan support and was included in the President’s
American Jobs Act legislation last fall," the signing organizations
said in the letter. "Moreover, several Treasury studies have shown
the favorable impact of this policy."
The House in December included 100-percent bonus depreciation
extension in its version of the payroll tax cut bill (H.R. 3630).
The letter sent by NBAA and the other groups urges lawmakers to
include bonus depreciation in a final version of the tax cut bill,
now under consideration by a joint House-Senate conference
"The business aviation community still faces economic headwinds,
and we should not take an important tool like this one out of the
toolbox for growing jobs and helping businesses acquire the assets
they need to compete in a global marketplace," said NBAA President
and CEO Ed Bolen. "We call on Congress to extend the 100-percent
accelerated depreciation for another year."
NBAA and other supporters also are asking Congress to include
language holding the tax incentive harmless from long-term
accounting methods under I.R.C. Section 460 and allowing eligible
companies to claim a portion of their unused Alternative Minimum
Tax (AMT) credits in lieu of bonus depreciation.
Other Parties Expected to Weigh In Momentarily EAA Counsel Alan Farkas has filed a 48 page Petition for Review of FAA Action and Other Relief with United States Court of Appeals fo>[...]
Field Reports Raise Questions About Accurate Accounting Of Electrical Loads The FAA has issued a Special Airworthiness Information Bulletin (SAIB) focusing on the requirements and >[...]
Also: Mohr Retires-Quietly, iFly on iOS, Record Female Skydive, China Goes To The Moon, SAFE Resources EAA Counsel Alan Farkas has filed a 48 page Petition for Review of FAA Action>[...]
Seeks Relief For Forced Payment Related To ATC Activities At Wittman Regional Airport During AirVenture The EAA has filed a petition in the U.S. Court of Appeals for the Seventh Ci>[...]
AD NUMBER: 2013-24-13 PRODUCT: Certain Boeing Model 737-100, -200, -200C, -300, -400, -500, -600, -700, -700C, -800, and -900 series airplanes.>[...]