United States: Corrected Standard Industry Fare Level (SIFL) For Second Half Of Calendar Year 2011

The U.S. Department of Transportation, as reported by the National Business Aviation Association, has recently corrected the SIFL rates that were initially issued on Aug. 25, 2011 for the six-month period from July 1, 2011 to Dec. 31, 2011.

This information is necessary when applying the IRS' aircraft valuation formula to compute the value of non-business transportation aboard employer-provided aircraft. This is required under IRS Section 1.61-21(g). For additional information, see the National Business Aviation Association website at www.nbaa.org. The corrected rates are:

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