1. Amounts paid for aircraft management services (a) In general Subsection (e) of section 4261 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (5) Amounts paid for aircraft management services (A) In general No tax shall be imposed by this section or section 4271 on any amounts paid by an aircraft owner for aircraft management services related to— (i) maintenance and support of the aircraft owner’s aircraft; or (ii) flights on the aircraft owner’s aircraft. (B) Aircraft management services For purposes of subparagraph (A), the term aircraft management services includes assisting an aircraft owner with administrative and support services, such as scheduling, flight planning, and weather forecasting; obtaining insurance; maintenance, storage and fueling of aircraft; hiring, training, and provision of pilots and crew; establishing and complying with safety standards