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Below is the Annual Lease value table for vehicles as provided by the IRS. This table can be used to assist in calculating the value of the fringe benefit for an employee's use of a Company car. Please call us to be sure that you are calculating the fringe benefit correctly. Annual
Automobile fair Lease
market value Value
(1) (2)
$ 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 fair market value in excess of $59,999, the Annual Lease Value is equal to: (.25 × the fair market value of the automobile) + $500 |
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