Don T Treat Your Aircraft Like Other Assets
Common Ownership Structures Owning business assets in sole-purpose entities is a common business structure that can align with many business and tax goals. However, there is a unique prohibition that complicates the use of this structure for aircraft. The FAA prohibits sole-purpose entities from operating aircraft under Part 91. If the aircraft is owned in a sole-purpose entity, operational control must be transferred to another party eligible to operate under Part 91....