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Aviation Law Alert - Standard Industry Fare Level (SIFL) for First Half of Calendar Year 2014

February 25, 2014   |   Atlanta | Chicago | Columbus | Delaware | Elkhart | Fort Wayne | Grand Rapids | Indianapolis | Los Angeles | Minneapolis | South Bend

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.

You can also visit us online at www.btlaw.com/aviation.

© 2014 Barnes & Thornburg LLP. All Rights Reserved. This page, and all information on it, is proprietary and the property of Barnes & Thornburg LLP. It may not be reproduced, in any form, without the express written consent of Barnes & Thornburg LLP.

This Barnes & Thornburg LLP publication should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own lawyer on any specific legal questions you may have concerning your situation.

TAX ADVICE NOTICE: Tax advice, if any, contained in this e-mail does not constitute a “reliance opinion” as defined in IRS Circular 230 and may not be used to establish reasonable reliance on the opinion of counsel for the purpose of avoiding the penalty imposed by Section 6662A of the Internal Revenue Code. The firm provides reliance opinions only in formal opinion letters containing the signature of a partner.

Visit us online at www.btlaw.com and follow us on Twitter @BTLawNews.

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