February 1, 2024
Beginning on January 1, 2024, the standard mileage rates for the use of a personal vehicle is 67 cents per mile driven for business use. These rates apply to all vehicle types (including electric, hybrid-electric, gasoline and diesel-powered vehicles).
The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile and is established by the Internal Revenue Service (IRS) each calendar year.
Mileage reimbursements must be claimed differently depending on whether you are an employee or student. Employees file their reimbursement reports in Concur, while students use the Travel Expense Report which is available on the Finance Forms webpage.