Terminal Charge, SIFL Rates Increase for 2nd Half of 2018

Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...

By Keith Hill

The terminal charge portion of the Standard Industry Fare Level formula increased to $42.88 for the second half of 2018, compared with $41.71 for the first half of 2018, the Transportation Department said Aug. 6.

The rate for the first 500 miles of travel increased to 23.46 cents a mile from 22.82 cents a mile. The rate for miles 501 to 1,500 rose to 17.88 cents a mile from 17.40 cents a mile. The rate for distances of more than 1,500 miles increased to 17.19 cents a mile from 16.73 cents a mile.

SIFL rates are used to calculate the amount of taxable income incurred by an employee who uses an employer’s aircraft for a personal or personal-business trip.

To contact the reporter on this story: Keith Hill in Washington at khill@bloombergtax.com. To contact the editor responsible for this story: Michael Baer at mbaer@bloombergtax.com.

Copyright © 2018 The Bureau of National Affairs, Inc. All Rights Reserved.

Request Payroll