The United States Department of Transportation (DOT) recently released updated Standard Industry Fare Level (SIFL) rates which are used to value employee personal use of company aircraft. The revised rates are 24.84¢ per mile for 500 or fewer miles traveled, 18.94¢ per mile for greater than 500 miles traveled and up to 1,500 miles traveled, and 18.21¢ per mile for greater than 1,500 miles traveled. The terminal charge is $45.41. These rates apply to the period from January 1, 2009 to June 30, 2009.
Contact Vision Payroll if you have any questions on SIFL changes.