The IRS has increased the standard mileage reimbursement rate for business travel to 65.5 cents per mile. This rate is effective for travel beginning January 1st, 2023 when using a personal vehicle. It's an increase of three cents per mile from the July, 2022 rate. The rate IRS rate is formulated to compensate an individual for fuel, depreciation, and insurance costs. It is adjusted annually on January 1st and semi-annually if warranted by economic conditions.
ÐÇ¿Õ´«Ã½ employees and students using personal vehicles for approved university business can request expense reimbursement at this rate in the PeopleSoft Travel and Expense Module. Travel before January 1st, 2023 will be reimbursed at the prior rate.
As a matter of ÐÇ¿Õ´«Ã½ policy, longer-distance car travel must not be at a higher cost basis than aggregate airfare/ground transportation for a destination unless there are exceptional circumstances. Contact the university Travel Office with any questions.