IRS mileage rate increase effective Jan. 1, 2024

Effective January 1, 2024, the IRS standard mileage rates for the use of a car, van, pickup truck, or panel truck for University business purposes are:

• 67 cents per mile for business use
• 21 cents per mile for moving purposes

These rates apply to electric and hybrid-electric automobiles and gasoline and diesel-powered vehicles and the updated rates apply to expenses incurred on or after Jan. 1, 2024.

Workday has been updated to the standard mileage rate of 67 cents per mile for business travel, effective Jan. 1, 2024.

For more information, please refer to the Controller’s Office Factsheet.