Standard Mileage Allowance Rate for 2018 Announced

Published January 11, 2018

The IRS announced the 2018 standard mileage rate for business use of a personal vehicle, which is based on an annual study of the costs of operating an automobile.

New Mileage Rate for 2018

The new rate for business miles driven for travel taking place on or after January 1, 2018, is 54.5 cents per mile, an increase from 53.5 cents for 2017.

The travel office will automatically adjust any travel vouchers received for travel taking place in 2018 that has the 2017 rate and will email a scanned copy of the revised voucher to the individual identified on the voucher as the travel preparer.