STATE OF CONNECTICUT
THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775
MEMORANDUM NO. 2008-05b
July 15, 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 valuation of personal miles in Section IV.D of Memorandum No. 2008-05. This is in accordance with the revision of the standard mileage rate in Announcement 2008-63, which appears in the Internal Revenue Bulletin dated July 14, 2008. This memorandum is being issued to advise agencies and employees of a change in the calculation using the cents-per-mile method.
II. VEHICLE CENTS-PER-MILE VALUATION METHOD
The new rate is 58.5 cents per mile for all miles of personal use effective July 1, 2008 through December 31, 2008. If the employer does not supply gasoline, the rate is reduced by 5.5 cents to 53 cents per mile.
Please direct any questions regarding this memorandum to the Comptroller's
Fiscal Policy Division at (860) 702-3440.
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