Aviation and Aircraft Taxation

Transactions involving aircraft raise numerous potential tax issues that you must carefully consider, including depreciation, passive activity losses, personal use of business aircraft rules, Section 1031 like-kind exchanges (and reverse or “Starker” exchanges), federal excise taxes, and state sales and use taxes. We review and provide counsel regarding proposed transaction structures and the impact of aircraft acquisitions and operations on your federal and state income, franchise, sales and use, and excise tax liabilities. We also can represent you in audits before the Internal Revenue Service or state taxing authorities.

  • Representation of numerous public and privately held corporations, including Fortune 500 corporations, in the purchase, sale, leasing, or financing of one or more aircraft
  • Representation of numerous banking and financial institutions in the financing or leasing of one or more aircraft
  • Representation of high-net-worth individuals in the purchase of whole or fractional interest in aircraft
  • Representation of secured creditors under leveraged aircraft lease arrangements in Chapter 11 bankruptcy proceedings of commercial airlines