Revenue Procedure 2010-13 Effective for Years Beginning After January 25, 2010
There are a number of good business reasons to isolate aircraft ownership and operation in stand alone entities. The benefits often include liability protection, confidentiality, sales and use tax control, and transferability of business interest. Current federal income tax benefits are rarely enhanced by using a stand alone structure; in fact, without proper planning federal tax benefits can be suspended or lost entirely based on the structure chosen.
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