Change in mileage reimbursement rate effective Jan. 1

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On December 23, 2009

Beginning in 2009, the University of Missouri began following the state of Missouri’s practice of reimbursement for business transportation expenses at a mileage rate that is three cents less than the IRS standard mileage rate. The IRS rate is based on an annual study of the fixed and variable costs of operating an automobile.
The IRS recently announced that, for 2010, the standard mileage rates for operating an automobile for business purposes have been lowered to reflect a slight decrease in the cost of gasoline compared to a year ago. Beginning Jan. 1, 2010, the IRS announced the standard mileage rate for business use of an automobile will be 50 cents per mile for business miles driven, compared to 55 cents per mile in 2009. In accordance with the university’s reimbursement at a mileage rate three cents less than the IRS rate, the university’s mileage reimbursement rate for business miles driven will change to 47 cents per mile, effective Jan. 1, 2010, down from 52 cents in 2009.
In addition, the IRS announced new rates for moving expenses of 16.5 cents per mile beginning Jan. 1, 2010, a reduction of 7.5 cents per mile, compared to 24 cents per mile in 2009. Effective Jan. 1, 2010, the university will reimburse at a rate of 13.5 cents per mile driven for moving purposes, three cents less than the IRS rate of 16.5 cents per mile.

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On December 23, 2009. Posted in Announcements