26 U.S.C. § 4282
§ 4282. Transportation by air for other members of affiliated group
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1970 by the Public Law 91-258. Last changed August 20, 1996 by the Small Business Job Protection Act of 1996.
Every change, newest first (3)
- August 20, 1996Small Business Job Protection Act of 1996
- October 4, 1976Tax Reform Act of 1976
- May 21, 1970Public Law 91-258 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Under regulations prescribed by the Secretary, if—
one member of an affiliated group is the owner or lessee of an aircraft, and
such aircraft is not available for hire by persons who are not members of such group,
no tax shall be imposed under section 4261 or 4271 upon any payment received by one member of the affiliated group from another member of such group for services furnished to such other member in connection with the use of such aircraft.
For purposes of subsection (a), the determination of whether an aircraft is available for hire by persons who are not members of an affiliated group shall be made on a flight-by-flight basis.