To amend the Internal Revenue Code of 1986 to provide for a 50 percent-of-occupancy rule with respect to the valuation of seats on corporate aircraft on legitimate business flight when those seats would have otherwise gone unoccupied.

Summary

Provides, in applying certain Treasury regulations for taxable years after December 31, 1991, for determining the value of a flight by an individual who is not flying primarily for an employer's business on the basis of the percentage of seats occupied by individuals (other than crew) whose flights are primarily for the employer's business rather than the percentage of seating capacity.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 September 1991

  Open at official source

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