Searching Content indexed under Transport by Grant Thornton LLP ordered by Published Date Descending.
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Lawmakers Extend Aviation Taxes For 15 Months
President Obama has signed a bill reauthorizing the Federal Aviation Administration (FAA) and extending aviation taxes for 15 months.
United States
25 Jul 2016
Illinois Adopts New Regulation For Apportioning Business Income Of Transportation Companies
The Illinois Department of Revenue has adopted a regulation to provide guidance on how to apportion the business income of transportation companies.
United States
22 Apr 2016
Senate Abandons Effort To Add Technical Corrections And Solar Energy To FAA Bill
The Senate last week abandoned efforts to craft a broader tax package to be included with a reauthorization of the Federal Aviation Administration (FAA).
United States
20 Apr 2016
Optional Standard Mileage Rates Released For 2016
In Notice 2016-1, the IRS issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
United States
4 Feb 2016
IRS Memorandum Addresses Application Of Like-Kind Exchange Rules And Aircraft Held For Trade Or Business Use
In a recent Internal Legal Memorandum to the field, the IRS National Office determined that an aircraft was held for productive use in a trade or business for purposes of applying the Section 1031 nonrecognition provisions.
United States
4 Feb 2016
IRS Updates Automobile Depreciation Limits For 2015
Section 280F limits depreciation deductions for passenger cars, trucks and vans, and these limits are adjusted for inflation every year.
United States
5 Mar 2015
Payments To Automobile Dealers Includable As Gross Income
The IRS determined that payments received by automobile dealerships from automobile manufacturers under a facility image-upgrade program were income.
United States
30 May 2014
Appropriators Looking For Nearly $100 Billion In Revenue Raisers For Highway Bill
The leaders of the Senate Environment and Public Works Committee have reached a tentative agreement on a transportation spending outline.
United States
29 Apr 2014
MACRS Recovery Period Change Required For Change In Use Of Airplane
The IRS has advised in a recent internal legal memorandum (ILM 2012-28-036) that a partnership’s switch from using an airplane primarily in its trade or business to primarily leasing the airplane to a commercial carrier represented a change in use that requires an adjustment to the recovery period of the airplane starting with the year the use changed.
United States
6 Aug 2012
Supply Chain Solutions: The Supply Chain Today: Achieving Efficiencies, Managing Uncertainties
As the past two years’ perfect storm of challenges — a global recession, falling demand, rising raw material prices, bulging inventories — has begun to stabilize, the outlook for manufacturing, retail and distribution is looking somewhat brighter.
United States
6 Jan 2011
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