Airport and Airway Trust Fund Excise Taxes

Summary

This practice note discusses the excise taxes on air transportation of people and property. These excises taxes are deposited into the Airport and Airway Trust Fund to fund the Federal Aviation Administration (FAA). This practice note includes information regarding the percentage tax, segment tax, international facilities tax, and property transportation tax. Also included is a discussion of who must collect the tax, how the tax is reported, and the penalty for failure to collect and remit the taxes.