Annual Lease Value Table For Employer-Provided Autos
Apply to:
Value the personal use of employer-provided autos. Multiply the table value by the personal-use percentage (based on allocation of personal and business miles driven) when the annual lease value method is selected by the employer to value the fringe benefit. The product of the personal-use percentage, the portion of the year the car was provided to the employee, and the annual lease value (based on the FMV of the car) must be included in the employee's gross income as wages subject to FICA. Employer can elect to not withhold FIT.
Limitations:
The FMV of the vehicle when first provided to the employee is used to determine the annual lease value for each of the first four years of use by an employee. In the fifth year that the vehicle is used, the FMV is redetermined, and a new annual lease value is calculated from the table. That redetermined value is then used for the second four-year period.
|
Automobile Fair Market Value |
Annual Lease Value |
|
|---|---|---|
|
$0 to 999 |
600 |
|
|
1,000 to 1,999 |
850 |
|
|
2,000 to 2,999 |
1,100 |
|
|
3,000 to 3,999 |
1,350 |
|
|
4,000 to 4,999 |
1,600 |
|
|
5,000 to 5,999 |
1,850 |
|
|
6,000 to 6,999 |
2,100 |
|
|
7,000 to 7,999 |
2,350 |
|
|
8,000 to 8,999 |
2,600 |
|
|
9,000 to 9,999 |
2,850 |
|
|
10,000 to 10,999 |
3,100 |
|
|
11,000 to 11,999 |
3,350 |
|
|
12,000 to 12,999 |
3,600 |
|
|
13,000 to 13,999 |
3,850 |
|
|
14,000 to 14,999 |
4,100 |
|
|
15,000 to 15,999 |
4,350 |
|
|
16,000 to 16,999 |
4,600 |
|
|
17,000 to 17,999 |
4,850 |
|
|
18,000 to 18,999 |
5,100 |
|
|
19,000 to 19,999 |
5,350 |
|
|
20,000 to 20,999 |
5,600 |
|
|
21,000 to 21,999 |
5,850 |
|
|
22,000 to 22,999 |
6,100 |
|
|
23,000 to 23,999 |
6,350 |
|
|
24,000 to 24,999 |
6,600 |
|
|
25,000 to 25,999 |
6,850 |
|
|
26,000 to 27,999 |
7,250 |
|
|
28,000 to 29,999 |
7,750 |
|
|
30,000 to 31,999 |
8,250 |
|
|
32,000 to 33,999 |
8,750 |
|
|
34,000 to 35,999 |
9,250 |
|
|
36,000 to 37,999 |
9,750 |
|
|
38,000 to 39,999 |
10,250 |
|
|
40,000 to 41,999 |
10,750 |
|
|
42,000 to 43,999 |
11,250 |
|
|
44,000 to 45,999 |
11,750 |
|
|
46,000 to 47,999 |
12,250 |
|
|
48,000 to 49,999 |
12,750 |
|
|
50,000 to 51,999 |
13,250 |
|
|
52,000 to 53,999 |
13,750 |
|
|
54,000 to 55,999 |
14,250 |
|
|
56,000 to 57,999 |
14,750 |
|
|
58,000 to 59,999 |
15,250 |
|
For vehicles having a FMV in excess of $59,999, the annual leave value is equal to (.25 x the FMV of the car) + 500.
Return to the Fringe Benefit Compensation Worksheet for Employer-Provided Automobiles.
Return to Automobile Fringe Benefit section 3.8.B "Annual Lease Value"
Return to Appendix A
