New Mileage Rate Starting October 1st
New Mileage Rate
Recently, the Internal Revenue Service (IRS) updated the standard mileage rate to 76 cents per mile (up from 72.5 cents per mile). The University will adopt this rate for all business-related travel occurring on or after October 1, 2026.
To ensure the correct rate is applied, please follow these guidelines:
- Expense Date: Ensure the Expense Date on the expense report line reflects the actual date of travel.
- Expense Item: Use ‘Mileage-Employee_Standard Rate.’ This will activate the Google Maps integration and automatically apply the correct rate based on your travel dates.