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Prior to the enactment of the Small Business Jobs Act (SBJA) of 2010, the Internal Revenue Code allowed a 50% additional first-year depreciation deduction for qualified property acquired after 2007 and placed in service before 2010. The SBJA extends the placed in service date for 50% bonus depreciation through 2012 and temporarily enhances the deduction to 100% for certain new property.

This column is the first installment in the fourth annual series of quarterly columns describing recent changes to aviation related state sales and use tax issues and - where pertinent - other aviation related tax issues in various regions of the United States.

May you live in interesting times… The origins of this proverb are in dispute, as is the underlying tone. Some take it at face value - as well-wishing. Others see it as a veiled curse, as in “May you garner the attention of powerful people.”

This column is the fourth installment in the third annual series of quarterly columns describing recent changes to aviation related state sales and use tax issues and, where pertinent, other aviation related tax issues in various regions of the United States.

It’s a fact of modern economic life that corporate executives and owners sometimes utilize company aircraft for personal travel. In many cases, companies that own business aircraft encourage their executives to use the company airplane for personal travel. Some companies even insist (citing security, productivity, communications, flexibility and lifestyle as reasons for their mandating that their executives fly privately).

This column is the third installment in the third annual series of quarterly articles describing recent changes to aviation-related state sales and use tax issues and, where pertinent, other aviation related tax issues in various regions of the United States.

This column is the second installment in the third annual series of quarterly columns describing recent changes to aviation related state sales and use tax issues (and, where pertinent, other aviation related tax issues in various regions of the United States). As was the case with our last series of quarterly columns, each will focus on a particular region of the United States – namely the Northeastern, Southeastern, Mid-Western and Western States.

The “Small Business Jobs Act of 2010”1 (the “Small Business Jobs Act”) includes some good news for both recent and prospective aircraft buyers. Bonus Depreciation benefits have returned. A significant portion of the new Bonus Depreciation benefits expire at yearend, so swift action on the part of taxpayers is imperative. This article will explore and summarize Bonus Depreciation and will examine some practical considerations for taking advantage of this benefit.

This column is the first of the third annual series of quarterly columns describing recent changes to aviation related state sales and use tax issues and, where pertinent, other aviation related tax issues in various regions of the United States. As was the case with the last series of quarterly columns, each will focus on a particular region of the United States – namely the Northeastern, Southeastern, Mid-Western and Western States.