Madison, LLC. (the Company) owns and/or leases various vehicles for use in its trade or business. Except for commuting and/or de miminis use, employees are allowed to use these vehicles only in connection with the Company's trade or business.
Certain employees (but not officers, directors, or shareholders owning a one percent or more interest in the Company) are required by the Company to commute to and/or from work in vehicles owned or leased by the company. Commuting is for the convenience of the Company and is required for bona fide noncompensatory business reasons.
The Company will include $1.50 for each one-way commute in the income of any employee who uses a Company vehicle for commuting.
I acknowledge receipt of this policy statement and have read, understand and will abide by the contents.
Name (printed or typed)
Copyright 1999 by A/N Group, Inc. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information is not necessarily a complete summary of all materials on the subject.--ISSN 1089-1536
--Last update 11/17/99