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DOT Revises SIFL Rates

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  • DOT Revises SIFL Rates
Published by Greg Reigel at August 6, 2004

If an employee flies on an employer-provided aircraft for non-business purposes, the value of that transportation is potentially taxable to the employee. This is also true for the employee’s family members or a non-employee guest. The Standard Industry Fare Level (SIFL) rate is used to meet the Internal Revenue Service Rules Section 1.61-21(g) requirement that the value of the transportation is calculated and then taxed as a benefit to the employee or non-employee guest.

The SIFL rate is calculated based upon distance and rate per mile and is performed on a per-flight, per-person basis. A flight equals “the distance in statute miles from where the individual boards the aircraft to where the individual deplanes.” The revised rates for July 1, 2004 through December 31, 2004 are: 0-500 miles=$0.1926/mi.; 501-1,500 miles=$0.1469/mi.; over 1,500 miles =$0.1412/mi.; and a Terminal Charge of $35.21.

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Greg Reigel
Greg Reigel
Greg has more than two decades of experience working with airlines, charter companies, fixed base operators, airports, repair stations, pilots, mechanics, and other aviation businesses in aircraft purchase and sale transactions, regulatory compliance including hazmat and drug and alcohol testing, contract negotiation, airport grant assurances, airport leasing, aircraft related agreements, wet leasing, dry leasing, FAA certificate and civil penalty actions and general aviation and business law matters. Read Full Bio

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