STATE OF CONNECTICUT
THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775
MEMORANDUM NO. 2008-05a
March 14, 2008
TO THE HEADS OF ALL STATE AGENCIES
|Attention:||Chief Administrative and Fiscal Officers, Business Managers, and Payroll and Human Resources Officers|
|Subject:||Calculation of the Taxable Benefit of the Non-Business Use of State-Provided Vehicles, Calendar Year 2008 - Revision|
The purpose of this memorandum is to revise the maximum vehicle value stated in Section IV.D. of Memorandum No. 2008-05. This revision is in accordance with Announcement 2008-15 which appears in the Internal Revenue Bulletin dated March 3, 2008. This memorandum is being issued to advise agencies and employees of a change in the maximum vehicle value for the cents-per-mile method.
II. MAXIMUM VEHICLE VALUE
The cents-per-mile valuation rule cannot be used for vehicles with a fair market value exceeding $15,000.
Please direct any questions regarding this memorandum to the Comptroller's Fiscal Policy Division at (860) 702-3440.
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