In a new interview with Private Jet Card Comparisons, Magellan Jets President Anthony Tivnan spoke about the CARES Act and its impact on private jet travel. In particular, the piece explains how travelers can enjoy tax-exempt benefits through 2021 and beyond.
Magellan Jets President Breaks Down CARES Act Private Jet Benefits
Due to the CARES Act, all private jet flights booked by Dec. 31, 2020 are exempt from the 7.5% federal excise tax. As Magellan Jets President Anthony Tivnan explains in the new piece, these benefits also extend to jet card purchases made by the end of the year, even if you don’t use those hours until 2021 or beyond.
“With recent clarification to the CARES Act, Magellan Jets is pleased to assist organizations and individuals in planning their business continuity plan and tax savings strategy for the next several years,” Tivnan tells the publication. “This stimulus incentivizes companies, many of whom were not using business aviation pre-COVID, to get back to business with a safe, secure, and healthy solution. Due to the strain, COVID has had on commercial airlines, not only from a safe in-cabin perspective but also the number of routes being cut and non-stop flights available, travel has become another obstacle many companies are facing today.”
Click the link below to read the full article and learn more about the CARES Act private jet benefits.