Examples of Lease Value in a sentence
The Annual Lease Values contained in the Annual Lease Value Table include the fair market value of maintenance of, and insurance for, the automobile.
Neither an employer nor an employee may reduce the Annual Lease Value by the fair market value of any service in- cluded in the Annual Lease Value that is not provided by the employer, such as reducing the Annual Lease Value by the fair market value of a maintenance service contract or insurance.
Therefore, except as otherwise provided in paragraph (d)(2)(v) of this section, the Annual Lease Value cal- culated by applying paragraph (d)(2) (i) or (ii) of this section shall remain in ef- fect for the period that begins with the first date the special valuation rule of paragraph (d) of this section is applied by the employer to the automobile and ends on December 31 of the fourth full calendar year following that date.
If the employer is also using the special rule of this paragraph (d), however, then the employee to whom the automobile is made avail- able must use the special rule, if at all, by using the Annual Lease Value cal- culated by the employer.
Ex- cept as otherwise provided in para- graph (d)(4)(iii) of this section, for peri- ods of continuous availability of one or more but less than 30 days, the value of the availability of the employer-pro- vided automobile is the Daily Lease Value.