IRS Publishes Rates And Terminal Charge For Noncommercial Flights.
Rev. Rul. 2001-13; 2001-1 C.B. 898
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Index Termsgross incomefringe benefitsvaluation
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2001-7845 (1 original page)
- Tax Analysts Electronic Citation2001 TNT 53-10
Rev. Rul. 2001-13
[1] For purposes of the taxation of fringe benefits under section 61 of the Internal Revenue Code, section 1.61-21(g) of the Income Tax Regulations provides a rule for valuing noncommercial flights on employer-provided aircraft. Section 1.61-21(g)(5) provides an aircraft valuation formula to determine the value of such flights. The value of a flight is determined under the base aircraft valuation formula (also known as the Standard Industry Fare Level formula or SIFL) by multiplying the SIFL cents-per-mile rates applicable for the period during which the flight was taken by the appropriate aircraft multiple provided in section 1.61-21(g)(7) and then adding the applicable terminal charge. The SIFL cents-per-mile rates in the formula and the terminal charge are calculated by the Department of Transportation and are reviewed semi-annually.
[2] The following chart sets forth the terminal charges and SIFL mileage rates:
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Period During Which the Terminal SIFL Mileage
Flight Is Taken Charge Rates
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1/1/01 - 6/30/01 $35.84 Up to 500 miles
= $.1961 per mile
501-1500 miles
= $.1495 per mile
Over 1500 miles
= $.1437 per mile
____________________________________________________________________
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Area/Tax Topics
- Index Termsgross incomefringe benefitsvaluation
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2001-7845 (1 original page)
- Tax Analysts Electronic Citation2001 TNT 53-10