Extension of 50% Depreciation Allowance for Business Aircraft
On February 17, 2009, President Obama signed into law The American Recovery and Reinvestment Act of 2009. Of particular interest to the aviation community is the Act's one-year extension of the 50% bonus depreciation allowance. To qualify, aircraft must be placed in service by December 31, 2009 (rather than December 31, 2008, as was previously the case). For "certain aircraft" (that is aircraft with a cost exceeding $200,000 and an estimated production period exceeding four months), aircraft must be placed in service by December 31, 2010 (rather than December 31, 2009).
