Mileage Rate 2024 Nc. Effective january 1, 2022, the internal revenue service (irs) has established new mileage rates based on an annual study of the fixed and variable costs of operating an automobile. 1, 2024, the irs increased the business standard mileage rate to 67 cents a mile (up from 65.5 cents), which impacts all individuals who travel on university business.

You can use this mileage reimbursement calculator to determine the deductible costs associated with running a vehicle for medical, charitable, business, or moving. Any employee driving for work and using their own personal vehicle for work can claim 65.5 cents per mile,.