USA S Corp EE-Owner use of personal auto HELP!

Aug 4, 2020
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United States
I seem to be confusing myself. Can someone tell me if I’m understanding the rules regarding business use of an employee auto correctly? Employee (the only employee) and 100% owner of an S Corp wants to buy a new car personally and have the business reimburse him for his business use. The car will cost $100,000 and he tells me he uses it 75% for business. Say he drives approximately 18,000 miles per year. What is the most the business can reimburse him tax-free under an accountable plan? Is it 18,000 x .75 . .575 = $7,763? Anything more would be taxable to him? The company can’t reimburse him for 75% of the actual expenses tax free If that ends up being more than the standard mileage reimbursement amount?

Thank you.
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