Jorge Castro and Andy Howlett Comment on CARES Act Impact on Aviation Businesses
"How Does the CARES Act Apply to Your Company During the COVID-19 Crisis?"
National Business Aviation Association
Jorge Castro and Andy Howlett commented on the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act, and its key provisions applicable to aviation businesses. In a recent webinar for members of the National Business Aviation Association, Castro and Howlett discussed certain tax implications of the CARES Act, including the net operating loss (NOL), interest expense deduction limitation, and aviation excise tax relief provisions. Castro indicated that additional tax-related provisions could be included in future stimulus legislation, saying "the severity and duration of crisis will determine the tax provisions being considered going forward."