COMPTROLLER'S SEAL STATE OF CONNECTICUT

STATE OF CONNECTICUT

NANCY WYMAN
COMPTROLLER
OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775
MARK OJAKIAN
DEPUTY COMPTROLLER

MEMORANDUM NO. 2008-05a

March 14, 2008

ADDENDUM

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

I. PURPOSE

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.

III. QUESTIONS

Please direct any questions regarding this memorandum to the Comptroller's Fiscal Policy Division at (860) 702-3440.

NANCY WYMAN
STATE COMPTROLLER

NW:CH

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