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Tag "Rex Reese"

The US extends 50% bonus depreciation for business aircraft to 2013 and 2014

Throughout the recent American presidential election season, the one thing Romney and Obama agreed on was broadening the income tax base by paring deductions available for tax incentives favoring the “wealthy.” In the case of business aircraft, one such incentive would appear to be accelerated depreciation, which allows the acquisition cost be recovered over as few as 5 years…

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Rex E. Reese, Jetviser

Rex E. Reese, Jetviser

Rex E. Reese is a US lawyer with two decades worth of experience in advising highly-demanding clients in connection with corporate aviation matters

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US Supreme Court refuses to consider critical aircraft liability question

On February 21, 2012, the United States Supreme Court refused to grant certiorari in the case of Aerolease v. Vreeland (Docket No. 11-728), and in doing so leaves defendant aircraft owners, lessors and lenders in some states exposed to liability for injuries to passengers occurring when the aircraft is not in the defendant’s possession or control. This outcome is of critical importance not only to institutional financiers of commercial and business/private aircraft, but also to owners and lessees of business/private aircraft who make their aircraft – whole and fractional – available to others by lease, sublease, master dry lease, conditional sales agreement, or other arrangement.

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