A Message from President, Bud Oakey
Stay tuned for more news on this important issue....
Thank you to all survey participants!
The Virginia Aviation Parts and Supplies Tax Credit Is under review and potentially in danger of being repealed.
The VABA needs to understand how your business has benefited by the Aviation Parts and Supplies Tax Credit.
The University of Virginia’s Weldon Cooper Center for Public Service will be conducting a study of this and other tax credits on behalf of the Virginia General Assembly’s Joint Legislative Audit Review Commission (JLARC). In the coming weeks, the VABA will be holding discussions with the study staff and needs good data relating to how the tax credit has impacted your business.
The information you provide will be kept confidential relating to your individual business and will only be used by the VABA to develop a qualitative and quantitative narrative to JLARC.
The VABA was instrumental in getting the aviation parts and supplies tax credit enacted into law July 1, 2018. The tax credit’s intent was to assist in making Virginia’s aviation maintenance and repair facilities more competitive with like businesses in other states. Based on anecdotal comments by many members, we believe this to now be the case.
However, the corona virus pandemic has dramatically impacted the Virginia budget, causing the Virginia legislature to consider eliminating tax incentives. If the JLARC analysis shows the aviation parts and supplies tax credit is generating tax revenues to the Commonwealth that it would not otherwise receive, then a favorable recommendation will be made for the legislature to sustain the tax credits.
WHO WE ARE
The VABA is a 501(c)6 non-profit organization which serves as the voice of aviation business in Virginia. Our mission is to promote the development of aviation business within the Commonwealth of Virginia and represent the Aviation Industry with the Commonwealth of Virginia’s legislature. We also strive to enhance the development of infrastructure of GA and regional airports in support of the Commonwealth, and support continued improvement of airport and flight safety operations of all Virginia aviators.
The VABA provides a unified voice for the Virginia aviation industry through:
· Business Promotion
The VABA government affairs team stays alert for issues impacting the operation of your aviation business. Twice yearly, the VABA will conduct forums with members to understand what is impacting member businesses. Throughout the year VABA staff will interact with both elected and appointed officials looking to impact positively those areas that will create a better opportunity to grow individual businesses.