The U.S. Department of Transportation, as reported by the National Business Aviation Association, has released the SIFL rates for the six-month period from Jan. 1, 2012 to June 30, 2012.
This information is necessary when applying the IRS' aircraft valuation formula to compute the value of non-business transportation aboard employer-provided aircraft as required under IRS Section 1.61-21(g). For additional information, see the National Business Aviation Association website at www.nbaa.org. The rates are:
Mileage Range |
Amount Per Mile |
0-500 Miles |
$0.2455 |
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