Off the radar: U.S. CEOs' jet perks add millions to corporate tax bills

Reuters | December 02, 2019

Off the radar: U.S. CEOs' jet perks add millions to corporate tax bills
As U.S. corporate jet use approaches pre-financial crisis levels and chief executives take an increasing number of personal trips on the company tab, many investors are being kept in the dark about the true cost of the perk. For the S&P 500 companies that pay for their CEOs to use corporate jets for private trips, the estimated median value of that flying climbed 11 percent last year to $107,286 from $96,532 in 2017, according to the latest available figures from compensation research firm Equilar Inc. That is up 27 percent from $84,636 in 2007, the year before the financial crisis. This is taxable income for executives. The estimates are often based on what a first-class seat would have cost on a commercial flight rather than on the true, much higher cost of using a corporate jet.

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Polk County Fire Rescue (PCFR), on behalf of the Polk County Board of County Commissioners, has been awarded the Assistance to Firefighters Grant (AFG) from the Department of Homeland Security/Federal Emergency Management Agency (DHS/FEMA). The public announcement of the successful award was made on June 3, 2016. The grant is to replace PCFR’s aged self-contained breathing apparatus (SCBA), which allows firefighters to have a breathable air supply while in hazardous environments, such as smoke and toxic gases. On Tuesday, June 21, formal acceptance was approved by county commissioners for the $1,579,900 grant. This is a matching grant with a 90 percent federal share ($1,436,273), matched with the county contribution of 10 percent ($143,627).

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Spotlight

Polk County Fire Rescue (PCFR), on behalf of the Polk County Board of County Commissioners, has been awarded the Assistance to Firefighters Grant (AFG) from the Department of Homeland Security/Federal Emergency Management Agency (DHS/FEMA). The public announcement of the successful award was made on June 3, 2016. The grant is to replace PCFR’s aged self-contained breathing apparatus (SCBA), which allows firefighters to have a breathable air supply while in hazardous environments, such as smoke and toxic gases. On Tuesday, June 21, formal acceptance was approved by county commissioners for the $1,579,900 grant. This is a matching grant with a 90 percent federal share ($1,436,273), matched with the county contribution of 10 percent ($143,627).