Published January 23, 2023
The IRS announced the 2023 standard mileage rate for business use of a personal vehicle, which is based on an annual study of the costs of operating an automobile.
The new rate for business miles driven for travel on or after January 1, 2023, is $0.655 per mile, an increase from $0.625 in July 2022.
The 2023 mileage rate will automatically show in the travel and expense reimbursement system (Concur) effective January 1, 2023.
For non-employee and guest reimbursements, the Travel Office will adjust any paper travel vouchers received for travel taking place as of January 1, 2023, with the July 2022 rate. They will email a scanned copy of the revised voucher to the individual identified on the voucher as the travel preparer.