How Much Is Mileage Reimbursement 2024 In Nj. Each year, the irs sets a mileage reimbursement rate. All mileage in lieu of actual expenses of transportation allowed an officer or employee of the state traveling by his own automobile on official business away from his designated post.

Most employers choose to provide the internal revenue service’s (irs) standard mileage rate. The irs bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023.