Tax Treatment and Reporting of University Provided Motor Vehicles Policy (FA 167)

The Tax Treatment and Reporting of University Provided Motor Vehicles Policy (FA 167) addresses the tax treatment of University vehicles by employees. Under the Internal Revenue Code, a motor vehicle provided to an employee by the University is considered a working condition fringe benefit and no portion of the value of the vehicle needs be included in the wages of the employee. However, if the vehicle is used for personal purposes, an allocation based on mileage will be used to determine the amount of personal use.

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• Tax