Aviation Law Alert - Standard Industry Fare Level (SIFL) for Second Half of Calendar Year 2012
Friday, September 14, 2012

The U.S. Department of Transportation, as reported by the National Business Aviation Association, has recently issued the SIFL rates in August, 2012 for the six-month period from July 1, 2012 to Dec. 31, 2012.

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:

Mileage Range        Amount Per Mile
0-500 miles:              $ 0.2569

501-1,500 miles:        $ 0.1959

over 1,500 miles:       $ 0.1884

Terminal Charge:       $ 46.97

 

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