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April 18, 2014

American Taxpayer Relief Act of 2012 - Aviation Law Alert

The American Taxpayer Relief Act of 2012 (fiscal cliff legislation) provides for an extension of 50 percent bonus depreciation through the end of 2013. The deadline for 100 percent bonus depreciation was not extended.

Basically, qualified property acquired by a taxpayer and placed in service before Jan. 1, 2014 will be entitled to 50 percent bonus depreciation.

“Certain aircraft” or “long-production period property” may qualify for 50 percent bonus depreciation even if they are placed in service in 2014.

© 2014 BARNES & THORNBURG LLP

About the Author

Clifford G. Maine, Aviation Law Attorney, Barnes Thornburg Law Firm
Partner

Clifford G. Maine is chairman of the firm’s Aviation Law Group. Mr. Maine's practice encompasses a wide variety of aviation law practice areas. He serves as general counsel to numerous aviation organizations.

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