Number of Take-Home Vehicles and Rationale

 

Number of Take-Home Vehicles and Rationale

What is the total number of take-home vehicles for your company, broken down between those for management employees and those for craft (hourly) employees?  Additionally, can you please elaborate on the main reason(s) for allowing employees to utilize take-home vehicles?

For ComEd, we have approximately 520 take-home vehicles, approximately 415 of which are used by management employees with the remaining 115 used by craft employees. Take-home vehicles are made available primarily to emergency and 1st responders to improve outage response time.  In addition, our policy states that employees who drive in excess of 16 thousand miles per year are eligible to utilize take-home vehicles.

Anonymous (not verified)
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Are these Take home vehicles considered a taxable benefit and do the employees have to track personal use?

Anonymous (not verified)
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At our company we have about 80 or 8% of our total (10% of light duty vehicles). The employee is required to make a minimal daily payment based on IRS rules. Reasons, similar to what you mention, the hourly are "on-call" the managers for emg and 1st responder.

Could you explain the logic on providing a take home vehicle for employees traveling more than 16 thousand miles/year?
I would like to talk to you more off-line if interested.

Anonymous (not verified)
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In regards to the 16K miles per year requirement, was there a cost/benefit analysis conducted? If so, can you share the information?

Anonymous (not verified)
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I am responding on behalf of ksmith2, who wrote:

"Per the IRS, passenger cars and SUV are considered a taxable benefit. Our employees do not track because they are not allowed to use the vehicle for personal use."

"Are these Take home vehicles considered a taxable benefit and do the employees have to track personal use?"

Anonymous (not verified)
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I am writing on behalf of ksmith2, who wrote:

"Our policy is based on job type and benefit to the company. The 16K mile/year requirement appears to be a legacy policy that was never really in use. As a matter of fact, no one within the Fleet organization is aware of why that 16K mile stipulation was ever in place. We do not have a policy around miles driven."