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HOW TO JOINTLY OWN AN AIRCRAFT, TAX, LIABILITY, AND OPERATIONAL ISSUES

Aircraft Operations & Legal, Co-Ownership

Filed Under: Aircraft Operations & Law, Co-Ownership Tagged With: aircraft partners, Co-Ownership, elect out of sub-chapter k, flow through entity

HOW TO SHARE A BUSINESS AIRCRAFT IN A SINGLE LLC

Electing Out of Subchapter K Provides Tax Benefits While Reducing Regulatory Cost

 Aviation, legal and tax professionals have historically encouraged joint owners of aircraft to hold their respective interest in the title.  The FAA has allowed for co-ownership of aircraft in its registration process, and issued interpretations as to how these aircraft may be operated.  The FAA specifically allows one co-owner to provide pilot services to fellow co-owners without violating the prohibitions banning the sale of transportation services by FAR Part 91 Operators. 

 » Read more about: HOW TO SHARE A BUSINESS AIRCRAFT IN A SINGLE LLC  »

Filed Under: Aircraft Operations & Law, Co-Ownership Tagged With: aircraft partners, Cape Town, Co-Ownership, international registry, joint ownership

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)  »

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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.