Interest has picked up in Cessna Aircraft’s line of single-engine piston aircraft since Congress passed a business stimulus bill that included a federal bonus depreciation tax clause, the company said.
“It is still too early to say to what extent the legislation will have on end-of-year sales numbers, but we can say we’ve seen a noticeable increase in activity in the market since passage of the bill in September,” Cessna director of propeller aircraft sales Mark Patterson said in a statement.
Under the Small Business Jobs Act of 2010, aircraft bought for business purposes between Jan. 1 and Dec. 31 this year may qualify for accelerated depreciation equal to 50 percent of the purchase price, Cessna said. That’s in addition to regular depreciation allowed on the other 50 percent.
Bonus depreciation included in a similar law that expired last year was a major factor in 41 percent of Cessna’s domestic aircraft sales in the fourth quarter of 2009, according to a survey of Cessna customers.