Yesterday, the Senate passed a compromise version of the American Jobs Creation Act of 2004 (HR 4520) which, when signed into law by President Bush, will extend, by one year, bonus depreciation enacted in 2003. The law extends the placed-in-service requirement. As a result, businesses acquiring assets that require a significant lead time from manufacture to delivery, such as aircraft,will have an additional year to order aircraft, take delivery and place them in service. A copy of the conference report for HR 4520 as passed by the Senate is available here.
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Bonus Depreciation To Extend For One Year
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Greg Reigel
Greg has more than two decades of experience working with airlines, charter companies, fixed base operators, airports, repair stations, pilots, mechanics, and other aviation businesses in aircraft purchase and sale transactions, regulatory compliance including hazmat and drug and alcohol testing, contract negotiation, airport grant assurances, airport leasing, aircraft related agreements, wet leasing, dry leasing, FAA certificate and civil penalty actions and general aviation and business law matters.
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