We investigate multi-terminal quantum transport through single monocyclic aromatic annulene molecules, and their derivatives, using the nonequilibrium Green function approach in the selfconsistent Hartree-Fock approximation. A new device concept, the Quantum Interference Effect Transistor (QuIET) is proposed, exploiting perfect destructive interference stemming from molecular symmetry, and controlling current flow by introducing decoherence and/or elastic scattering that break the symmetry. This approach overcomes the fundamental problems of power dissipation and environmental sensitivity that beset many nanoscale device proposals.PACS numbers: 85.65.+h, 31.15.Ne, 03.65.Yz From the vacuum tube to the modern CMOS transistor, devices which control the flow of electrical current by modulating an electron energy barrier are ubiquitous in electronics. In this paradigm, a minimum energy of k B T must be dissipated to switch the current "on" and "off," necessitating incredible power dissipation at device densities approaching the atomic limit [1]. A possible alternative is to control electron flow using quantum interference [2,3,4,5]. In mesoscopic devices, quantum interference is typically tuned via the Aharanov-Bohm effect [6]; however, in nanoscale conductors such as single molecules, this is impractical due to the enormous magnetic fields required to produce a phase shift of order one radian. Similarly, a device based on an electrostatic phase shift [3,4] would, in small molecules, require voltages incompatible with structural stability. We propose a solution exploiting perfect destructive interference stemming from molecular symmetry, and controlling quantum transport by introducing decoherence or scattering from a third lead.As daunting as the fundamental problem of the switching mechanism, is the practical problem of nanofabrication [1]. In this respect, single molecules have a distinct advantage over other types of nanostructures, in that large numbers of identical devices can be readily synthesized. Single-molecule devices with two leads have been fabricated by a number of techniques [7]. Our transistor requires a third terminal coupled locally to the molecule, capacitively or via tunneling (see Fig. 1). To date, only global gating of single-molecule devices has been achieved [7]; recently, however, there has been significant progress toward a locally coupled third terminal [8].This Letter reports the results of our recent theoretical investigations into the use of interference effects to create molecular transistors, leading to a new device concept, which we call the Quantum Interference Effect Transistor (QuIET). We demonstrate that for all monocyclic aromatic annulenes, particular two-terminal configurations exist in which destructive interference blocks current flow, and that transistor behavior can be achieved by supplying tunable decoherence or scattering at a third site. We also propose a realistic model for introducing scattering in a controllable way, using an alkene chain of arbitrary length (cf. ...