学位论文_汽车专业 翻译 中英文（全）courtesy automobile policies and procedures manual.docVIP

Courtesy Automobile Policies and Procedures Manual Table of Contents INTRODUCTION Purpose 1 Effective Date 1 Acknowledgement 1 BACKGROUND INFORMATION 1 DEFINITIONS 2 Annual Lease Value (ALV) 2 Commuting 2 Fair Market Value (FMV) 2 Personal Usage 3 GASOLINE REIMBURSEMENT 3 Coaches and Other Athletic Personnel Courtesy Automobile Drivers 3 RESPONSIBILITIES 3 Courtesy Automobile Drivers 3 Coaches and Other Athletic Personnel Courtesy Automobile Drivers 4 Other Courtesy Automobile Drivers 4 Southern Miss Athletic Department 4 The University of Southern Mississippi’s Foundation and Alumni Association 4 The Controller’s Office 4 APPENDIX 1 – Courtesy Automobile Mileage Log 6 APPENDIX 2 – Courtesy Automobile Usage Questionnaire 7 APPENDIX 3 – Sample Calculation 8 APPENDIX 4 – Sample Memo 9 APPENDIX 5 – Form W-2 10 introduction Purpose The personal usage of courtesy automobiles by The University of Southern Mississippi (Southern Miss) employees is considered to be taxable compensation by the Internal Revenue Service (IRS). This manual is designed to insure compliance with IRS guidelines regarding personal use of courtesy automobiles. This policy applies to all employees of Southern Miss who are provided the use of a courtesy automobile in connection with the performance of their jobs. Effective Date This policy will go into effect as of November 1, 2000. Background Information The Tax Reform Act of 1984 clarified that personal use of employer-provided vehicles (in this case, courtesy automobiles) constitutes taxable compensation equal to the fair market value (FMV) of the personal use of the vehicle. The value of the additional compensation is to be added to the employee’s income based on the ratio of personal use to total vehicle use and the value of the assigned vehicle. Southern Miss is required to withhold FICA taxes (also known as Social Security Tax) on the additional compensation, and will withhold Mississippi State Income Tax, but is