The U.S. Department of Transportation recently revised SIFL rates for the six-month period from Jan. 1, 2014, to June 30, 2014. These rates are necessary when applying the IRS’s aircraft valuation formula to compute the value of non-business transportation aboard employer-provided aircraft as required by the Internal Revenue Service Rules Section 1.61-21(g). SIFL rates for the six-month period from Jan. 1, 2014, to June 30, 2014, are:
MILEAGE RANGE | AMOUNT PER MILE
0-500 miles $0.2515
501-1,500 miles $0.1918
over 1,500 miles $0.1844
Terminal Charge $ 45.98
For more information, contact the Barnes & Thornburg attorney with whom you work, or Clifford G. Maine, chair of the firm’s Aviation group, at (616) 742-3944 or cmaine@btlaw.com.
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