MILEAGE REIMBURSEMENT

 

The IRS has announced that the standard mileage rate for operating an automobile for business purposes will be 48.5 cents per mile for mileage incurred beginning January 1, 2007.  Consistent with the IRS rate and University practice, the mileage reimbursement rate for business transportation expenses will change to 48.5 cents per mile effective January 1, 2007.