Summary: H.R.4884 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for H.R.4884. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/22/1986)

Amends the Internal Revenue Code to provide that the value of transportation provided to any person on a noncommercially operated aircraft shall be considered "no-additional-cost service" and therefore excludible from gross income if: (1) such transportation is provided on a flight made in the ordinary course of the trade or business of the taxpayer owning or leasing such aircraft for use in such trade or business; (2) the flight on which the transportation is provided would have been made whether or not such person was transported on the flight; and (3) no substantial additional cost is incurred in providing such transportation to such person.