The National Business Aviation Association (JetOptions is a member of NBAA) has welcomed a vote by the House of Representatives to renew several expiring tax provisions – including accelerated depreciation – for one year.
“NBAA applauds this action by the House to renew bonus depreciation and other tax incentives that encourage businesses to upgrade equipment and invest in assets such as aircraft,” said NBAA President and CEO Ed Bolen.
Bonus depreciation expired at the end of 2013, but NBAA and a broad coalition of industry groups have backed efforts in Congress to renew it retroactively as part of a package of tax “extenders.”
“Bonus depreciation strengthens our economy in two essential ways,” Bolen explained. “It gives our businesses immediate access to the most advanced equipment, including aircraft, making them more competitive, and it preserves jobs in America’s vital aircraft-manufacturing industry.”