Legislative update: Airport, airways trust fund taxes are extended

Airport, airways trust fund taxes

President Obama in the evening of September 30, 2015, signed H.R. 3614, the “Airport and Airway Extension Act of 2015.” With the president’s signature, certain taxes (and the related tax rates) dedicated to the airport and airway trust fund are extended through March 31, 2016.

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The legislation extends:

  • The imposition of tax at an increased rate on certain removals, entries, and sales of aviation gasoline and kerosene used in noncommercial aviation
  • The tax on amounts paid for taxable transportation of persons by air
  • The tax on amounts paid for taxable transportation of property by air
  • The exemption for aircraft in fractional ownership aircraft programs

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