A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of certain air transportation.

Summary

Amends the Internal Revenue Code to provide that the value of transportation provided to any person on a noncommercially operated aircraft shall be considered "no-additional-cost service" and therefore excludible from gross income if: (1) such transportation is provided on a flight made in the ordinary course of the trade or business of the taxpayer owning or leasing such aircraft for use in such trade or business; (2) the flight on which the transportation is provided would have been made whether or not such person was transported on the flight; and (3) no substantial additional cost is incurred in providing such transportation to such person.

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Documents

1 official file

• Introduced in House

  summary · EN · 22 May 1986

  Open at official source

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