Advocate Consulting Legal Group, PLLC - The Aviation "TLC" Provider

Toll Free: 888.325.1942 | info@advocatetax.com
  • Aircraft Income Tax
    • SIFL
    • Aircraft Income Tax Online Tools
    • Aircraft Income Tax
  • Aircraft State & Local Tax
    • Aircraft State & Local Tax Online Tools
    • Sales & Use Taxes Articles
  • Aircraft Operations & Law
    • Aircraft Operations & Law Articles
  • YouTube Library
  • Flight Logs
  • About Us
    • Our Team
    • Employment Opportunities
    • Service Agreements
    • Service Delivery – FAQ
    • Contact Us
You are here: Home / YouTube / Is it all right to set up a subsidiary, affiliated corporation, or special purpose entity to own and operate the aircraft for liability reasons?

Written by jonl

Is it all right to set up a subsidiary, affiliated corporation, or special purpose entity to own and operate the aircraft for liability reasons?


 

Transcript:

It’s very common for businesses that are owning and operating aircraft to set up a special purpose entity or a subsidiary specifically to own and operate the aircraft, to separate those operations from the main business for liability purposes. It is important to remember that there can be tax consequences of doing so, and for FAA purposes you want to make sure that there is some separation between ownership of the aircraft and operation of the aircraft so as not to run afoul of Part 91 operation rules. Yes, a subsidiary or a special purpose entity can and often should be used for aircraft ownership and operation, but you want to be careful about the way you separate those costs and structure that operation to make sure you’re FAA compliant.

Filed Under: YouTube Tagged With: FAA

Latest Article

Corporate Jet Investor Town Hall – Finance, Tax and All That Jazz (Webinar Replay)

View a replay of the town hall by clicking the video above, or following the link here.

As you know, these are unprecedented times for business aviation. We invite you to join the Corporate Jet Investor Town Hall as a way of staying connected and informed during this period.

Moderated by Alasdair Whyte, co-founder Corporate Jet Investor, each week CJI will tackle a different issue or topic through the knowledge of as many expert participants as possible.

 » Read more about: Corporate Jet Investor Town Hall – Finance, Tax and All That Jazz (Webinar Replay)  »

Upcoming Events

There are no upcoming events at this time.

Contact Us

Toll Free: 888-325-1942
Email: info@advocatetax.com


Advocate Consulting Legal Group, PLLC. 3555 Kraft Rd. Suite 240 Naples, FL 34105 and 1300 N. Westshore Blvd. Suite 220 Tampa, FL 33607. Suzanne Meiners-Levy, Esq. (239) 213-0066. Tax Disclosure. We inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under federal tax laws, specifically including the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Privacy Policy. Terms of Use.